A Closer Look at the IRAs in State Automatic Enrollment IRA Programs

46 Pages Posted: 18 Mar 2017

See all articles by Kathryn L. Moore

Kathryn L. Moore

University of Kentucky College of Law

Date Written: December 2016


The United States faces a serious retirement savings funding gap. In an effort to fill that gap, a number of states and municipalities have begun to consider, and in some instances adopt, automatic enrollment IRA programs. Indeed, between September 2012 and June 2016, five states enacted state automatic enrollment IRA programs.

This Article takes a closer look at the IRAs in these state programs. It begins by providing an overview of the state laws creating automatic enrollment IRA programs. It then discusses the requirements that the state programs must satisfy in order to qualify as IRAs for purposes of the Internal Revenue Code and how effective the state programs are in satisfying these requirements. Finally, it concludes by discussing the distinction between Roth and traditional IRAs and which type of IRA is best suited to serve as the default IRA.

Keywords: IRA, IRAs, automatic enrollment, state, retirement, retirement savings, automatic enrollment IRAs, federalism, Internal Revenue Code, Oregon, Connecticut, Maryland

Suggested Citation

Moore, Kathryn L., A Closer Look at the IRAs in State Automatic Enrollment IRA Programs (December 2016). Connecticut Insurance Law Journal, Vol. 23, No. 1, 2016-2017, Available at SSRN: https://ssrn.com/abstract=2934431

Kathryn L. Moore (Contact Author)

University of Kentucky College of Law ( email )

620 S. Limestone Street
Lexington, KY 40506-0048
United States
859-257-7637 (Phone)
859-323-1061 (Fax)

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