By Jeanne Sahadi, CNN

(CNN) — More than 50 million US private-sector employees don’t have access to a workplace retirement savings plan like a 401(k).

But a growing number of states are now requiring most private-sector employers to provide what are known as “auto IRAs” if they don’t already offer a workplace plan. Each employee gets their own retirement account, with automatic contributions made from their paychecks.

Oregon was first in 2017. Today, a total of 15 states have an active auto-IRA program, and two others are in the process of implementing theirs, according to the Pew Charitable Trusts. Plus, eight states are weighing legislation this year to create their own auto-IRA programs.

There is now $2.79 billion in nearly 1.2 million funded auto IRA accounts as of January 31, according to the latest data from the Georgetown Center for Retirement Initiatives. That counts assets across 12 state programs; it does not include the three states that opened programs in the past several months.

New York’s new plan

New York is one of those three states. Its plan opened in October. Employers have until March 18 to register if they have 30 or more employees; until May 15 if they have 15 to 29; or July 15 if they employ 10 to 14 people.

The only employers exempt from New York’s mandate are those with fewer than 10 employees or those that have been in business less than two years. Several other states have tighter exemptions, such as businesses with five or fewer employees, according to Kim Olson, Pew’s senior officer for retirement planning.

How an auto IRA typically works

State-based auto IRAs are Roth IRAs. The accounts are funded with after-tax money, which then compounds tax free.

Employers automatically deduct a small portion of your paycheck — usually 3% or 5% — and invest it in, most typically, a target-date fund based on your anticipated year of retirement.

Employers then automatically increase your contributions by 1% of your pay a year until the contributions reach between 8% and 10%, depending on state rules. You also may choose to increase or decrease your contributions yourself (or even opt out).

There is usually no cost to employers to enroll their workers in the plan, and matching employer contributions are not permitted in Roth IRAs. Employers also don’t assume fiduciary duty — meaning they don’t have to worry about selecting solid, low-cost investments and making other decisions in the best interest of plan participants. That duty usually resides with a state board overseeing the program, Olson said.

But starting in 2027, workers may qualify for a federal Saver’s Match worth up to $1,000 a year. That match — equal to half of your retirement contributions up to $2,000 — will be deposited directly into your Roth IRA.

The Saver’s Match replaces a current non-refundable tax credit for low- and moderate-income workers who save for retirement in a workplace plan or IRA

By John Towfighi, CNN

New York (CNN) — A sell-off rippled through software, real estate and trucking stocks this past week as investors worried artificial intelligence could upend some industries — and analysts say the white-knuckle drops might not be over yet.

Software stocks bore the initial brunt of AI disruption nerves. But those fears soon spread to insurance companies, brokerage firms, real estate services — even logistics and trucking.

“Market is in shoot first, ask questions later mode, with any names/sectors that could be impacted by AI disruption taking a hit,” Mohit Kumar, a strategist at Jefferies, said in a note.

The slump in shares points out a major change for investors going forward: AI, which had been powering big rallies in tech and other stocks for months, could now actually drag on some parts of the market.

Financial services

Shares of major insurance brokers fell on February 9 after Madrid-based startup Tuio unveiled a new insurance app built with ChatGPT, according to UBS.

That sparked fears that AI tools could eat into existing companies’ business models and customer bases. Shares of professional services and insurance companies sank. Marsh shares (MRSH) tumbled 7.5%. Arthur J. Gallagher shares (AJG) dropped 9.85%.

But Brian Meredith, an analyst at UBS, said in a note that he thinks the sell-off was “meaningfully overdone,” noting that insurance brokers remain “essential intermediaries” for household financial decisions, and it is unlikely AI will ultimately upend the industry.

On Tuesday, tech startup Altruist announced a new tax planning feature for Hazel, the company’s AI tool. That stoked fears that the specialized client services offered by brokerage and wealth management firms could face increased competition.

Charles Schwab (SCHW) shares dropped 7.42% Tuesday. Shares of financial services company LPL Financial (LPLA) and Raymond James (RJF) slumped 8.75% and 8.31%, respectively.

Real estate

Real estate services found themselves in the barrel on Wednesday and Thursday.

Cushman & Wakefield shares (CWK) tumbled 13.8% Wednesday and 11.5% Thursday. Shares of real estate service companies CBRE Group (CBRE) dropped 12.2% and 8.8% across the two days. Jones Lang LaSalle (JLL) fell 12.5% and 7.6%.

“We believe investors are scrutinizing high-fee, labor-intensive business models viewed as potentially vulnerable to AI-driven disruption,” Jade Rahmani, an analyst at Keefe, Bruette & Woods, said in a note.

And AI has the potential not just to compete with traditional real estate brokerages and agents, but to slash demand for office space in general, as AI executives predict their technology will eliminate swaths of the economy.

“If there are less office workers in the long run as a result of AI, there will be less demand for office space,” CBRE Group chief executive Bob Sulentic said on the company’s earnings call on Thursday morning. “That would be a long-term trend to unfold.”

Logistics

The Dow Jones Transportation Average — an index of 20 companies in the transportation industry — sank 4% Thursday and had its worst day since

By Eric Levenson, CNN

(CNN) — The father of the teenager who allegedly killed four people at his Georgia high school in 2024 is set to stand trial on murder and manslaughter charges Monday in the latest case testing the limits of who is responsible for a school shooting.

Colin Gray, the father of Colt Gray, has pleaded not guilty to nearly 30 charges, including two counts each of second-degree murder and involuntary manslaughter.

Opening statements are set for Monday morning, followed by witness testimony. The state has indicated it plans to seek testimony from members of Gray’s family, shooting survivors and behavioral health experts. The trial is expected to last about three weeks.

The case stems from the shooting at Apalachee High School in September 2024, when then-14-year-old Colt Gray allegedly used an AR15-style rifle to kill two students and two teachers and injure nine others. He ultimately surrendered to police and has admitted to the shooting, according to authorities.

More than a year earlier, law enforcement had questioned the teen and his father about “online threats to commit a school shooting,” though no charges were filed, authorities said. Even so, Colin Gray bought a firearm for his son as a Christmas present in December 2023 – the same firearm he used in the mass shooting, according to two law enforcement sources with direct knowledge of the investigation.

The indictment alleges Gray allowed his teenage son access to a firearm and ammunition after receiving “sufficient warning” that his son would harm and endanger others, actions that constitute “criminal negligence” by “consciously disregarding a substantial and unjustifiable risk.”

The trial is part of a broader push to hold more people accountable for a school shooting, including the shooter’s parents and responding law enforcement officers.

This case bears close similarities to the trials of James and Jennifer Crumbley, whose then-15-year-old son killed four students in 2021 at his high school in Oxford, Michigan. The Crumbley parents were each convicted of manslaughter and sentenced to 10 to 15 years in prison. Their son was sentenced to life in prison without parole.

Colin Gray has remained behind bars since his arrest a day after the shooting. If convicted, he faces 10 to 30 years in prison on each murder charge and 1 to 10 years on each manslaughter charge.

Colt Gray, now 16, has been indicted on 55 felony counts, including four counts of malice murder, according to court documents. He has pleaded not guilty, although a defense attorney last year raised the possibility he may change his plea. A trial date has not been set.

What happened at the shooting

The mass shooting at Apalachee High School in Winder, Georgia, about 50 miles northeast of

By Elizabeth Hartfield, CNN

(CNN) — It’s been 16 days since Nancy Guthrie was reported missing, and investigators working the case that has captivated the nation’s attention are encountering a unique mix of challenges.

The secluded area in Arizona where Guthrie lives and appears to have been kidnapped in the early morning hours of February 1 continues to present obstacles, as does the intense media scrutiny. More recently, reports of tensions between the FBI and the Pima County Sheriff’s Office dominated headlines.

CNN Chief Law Enforcement and Intelligence Analyst John Miller laid out what he believes are the three biggest challenges facing investigators as they enter week three of the increasingly frustrating search for the mother of “Today” show anchor Savannah Guthrie.

The safety of the victim

“Investigators’ first challenge is, can the victim be located and what is the victim’s condition at this point,” Miller said.

Guthrie is 84 years old, has a pacemaker and requires daily medication, according to authorities and her family. There is no indication Guthrie has received that medication in more than two weeks, as it was left behind when she was apparently taken from her home.

“The victim comes first,” Miller added. “Right now, when it comes to how the victim is, where the victim is, and what condition the victim is in, is a blind spot for (investigators).”

Another concern is the apparent lack of communication between law enforcement and the Guthrie family with possible kidnappers.

“At this point, the investigators – as far as we know – have lost touch with individuals who were purporting to be the kidnappers. No proof of life has been offered, to our knowledge,” Miller noted, referencing two ransom notes sent to news outlets shortly after Guthrie was first reported missing.

Although the authenticity of the notes still has not been verified, the loss of any possible line of communication is not a good sign.

Investigators are buried in leads

The influx of tips generated in the case – further fueled by the release this week of footage captured by Guthrie’s doorbell camera – is both good and bad for law enforcement.

Investigators want as many tips as possible – there are thousands in this case – and history has shown that, sometimes, one tip can change an entire investigation.

But going through a lot of leads takes a lot of time, even with a large number of personnel involved, and time is not on investigators’ side.

And it’s never clear which tip is going to be the one that brings investigators to the right place.

“As we’ve learned time and again, sometimes it is the more obscure lead that may end up further down in the pile that has the answer in it,” Miller said. “The only way to get there is to go through them as fast and thoroughly as possible.”

Investigators are operating in a fishbowl

“This may be the most high-profile kidnapping in America since the Lindbergh baby because of the nature of the victim and the victim’s family,” Miller pointed out, noting Savannah Guthrie’s high profile as an anchor of “Today.”

There is simply an extraordinary amount of media attention, which brings with it scrutiny and can make it difficult for investigators to hold back information.

“One of the risks to an investigation like this is – much of it has to be done behind the c

CNN, FBI, SAVANNAH GUTHRIE , INSTAGRAM, KOLD, Savannah Guthrie / Instagram

By Elizabeth Hartfield, CNN

(CNN) — It’s been 16 days since Nancy Guthrie was reported missing, and investigators working the case that has captivated the nation’s attention are encountering a unique mix of challenges.

The secluded area in Arizona where Guthrie lives and appears to have been kidnapped in the early morning hours of February 1 continues to present obstacles, as does the intense media scrutiny. More recently, reports of tensions between the FBI and the Pima County Sheriff’s Office dominated headlines.

CNN Chief Law Enforcement and Intelligence Analyst John Miller laid out what he believes are the three biggest challenges facing investigators as they enter week three of the increasingly frustrating search for the mother of “Today” show anchor Savannah Guthrie.

The safety of the victim

“Investigators’ first challenge is, can the victim be located and what is the victim’s condition at this point,” Miller said.

Guthrie is 84 years old, has a pacemaker and requires daily medication, according to authorities and her family. There is no indication Guthrie has received that medication in more than two weeks, as it was left behind when she was apparently taken from her home.

“The victim comes first,” Miller added. “Right now, when it comes to how the victim is, where the victim is, and what condition the victim is in, is a blind spot for (investigators).”

Another concern is the apparent lack of communication between law enforcement and the Guthrie family with possible kidnappers.

“At this point, the investigators – as far as we know – have lost touch with individuals who were purporting to be the kidnappers. No proof of life has been offered, to our knowledge,” Miller noted, referencing two ransom notes sent to news outlets shortly after Guthrie was first reported missing.

Although the authenticity of the notes still has not been verified, the loss of any possible line of communication is not a good sign.

Investigators are buried in leads

The influx of tips generated in the case – further fueled by the release this week of footage captured by Guthrie’s doorbell camera – is both good and bad for law enforcement.

Investigators want as many tips as possible – there are thousands in this case – and history has shown that, sometimes, one tip can change an entire investigation.

But going through a lot of leads takes a lot of time, even with a large number of personnel involved, and time is not on investigators’ side.

And it’s never clear which tip is going to be the one that brings investigators to the right place.

“As we’ve learned time and again, sometimes it is the more obscure lead that may end up further down in the pile