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Happy Labor Day! Just as many of us are heading out for a long weekend, California workers got some good news—the state legislature passed a bill that will provide coverage for small-business employees who lack a workplace retirement plan. The bill is expected to be signed by Gov. Jerry Brown this month. California would be the largest state to offer a retirement saving plan, but it’s not alone—some 30 other states are in various stages of setting up similar programs. All of which highlights a basic problem: without an employer nudge, most people don’t save for retirement. If you don’t have a workplace plan, set up automatic investments into an IRA. (And if you have a plan, step up your contributions.) That way, your savings will really happen—and you will improve your chances of affording a comfortable retirement.

Best wishes,

Penny

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