The Philadelphia City Council has advanced a proposal to create PhillySaves, a city-sponsored automated retirement savings program designed to reach private sector workers whose employers do not offer retirement benefits.

City officials said the initiative aims to expand access to retirement savings while placing minimal administrative burdens on employers.

Under legislation approved by the council, the program would be authorized to begin operations if voters approve an independent governing board through a public referendum scheduled for May 2026, local outlet WHYY News reported.

If implemented, PhillySaves would target an estimated 208,000 workers in Philadelphia who are currently without access to details ⇒

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