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Legislative Committee Supports State-Operated Retirement Accounts

A legislative committee voted last week to support a plan to establish state-operated Individual Retirement Accounts. 

Northern Nevada Business View reports that the Nevada Task Force on Financial Security voted to establish the Nevada Employees Saving Trust, which it says will make retirement pensions more viable for many state workers, as well as helping small businesses which can't otherwise afford to offer pension benefits. 

AARP in Nevada has estimated that nearly 560,000 Nevadans work for businesses that don't offer a pension plan.

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The task force estimated that the Trust could save the state $24 million over 15 years if workers could establish a pension, with savings coming in less demand for Medicaid, food stamps and housing subsidies. 

The task force is also supporting legislation for a study designed to help Nevadans, including undocumented immigrants, gain access to health insurance. 

It wants managed care organizations to offer coverage for medically necessary emergency services to a prudent layperson.