Wharton Pension Research Council Working Papers

Document Type

Working Paper

Date of this Version



This paper describes and evaluates models and features used in emerging state-sponsored retirement saving plans such as Auto IRAs, open Multiple Employer Plans and Marketplaces. These plans have enormous potential to raise the number of Americans with access to payrolldeduction retirement saving plans. We believe that plans that boost coverage most will feature two characteristics: required provision of retirement saving plans by firms and automatic enrollment of eligible workers. However, we also note that under current legal and regulatory conditions, Secure Choice is the only model that enables states to require that employers provide a plan.


The published version of this Working Paper may be found in the 2018 publication: How Persistent Low Returns Will Shape Saving and Retirement.


Secure Choice, Multiple Employer Plans, marketplace, automatic enrollment, mandatory provision.

Working Paper Number


Copyright/Permission Statement

All findings, interpretations, and conclusions of this paper represent the views of the author(s) and not those of the Wharton School or the Pension Research Council. © 2017 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.

Included in

Economics Commons



Date Posted: 13 February 2019