A new program was announced today by Nevada State Treasurer Zach Conine that provides workers in the state with access to retirement savings.
The program is called the Nevada Employee Savings Trust Program, or "NEST."
NEST is a state-facilitated retirement savings program that aims to help private sector employees who do not have access to a employer-sponsored 401K or a pension plan.
According to the AARP, almost 600,000 workers in Nevada do not have access to a plan so that they can save for their retirement.
The NEST program was authorized by the Legislature during the 2023 Legislative Session, through Senate Bill 305.
Under the law, businesses and non-profit organizations that have six or more employees and have been in operation for more than three years must register and automatically enroll their employees with the program unless they already offer a retirement program that meets specifications.
Registration is free, and the employers do not contribute to these accounts.
For more information about the NEST program, visit the NEST website.
