Philadelphia voters have overwhelmingly approved PhillySaves, a groundbreaking ballot measure that establishes the nation's first city-run retirement savings program for private sector employees lacking employer-sponsored 401(k) plans. This initiative will automatically enroll an estimated 208,000 workers, many in the service industry or employed by small businesses, into individual retirement accounts managed by a third-party firm and overseen by the Philadelphia Retirement Savings Board. Participation is voluntary, allowing employees to opt out or adjust contributions, and accounts will be portable across jobs. The program aims to bolster retirement security without imposing costs on participating businesses.