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The article reports that New York is close to joining a growing list of states that are creating a retirement plan option for private sector employees who do not have access to 401(k)-like programs at work, and mentions that program was included in budget deal to be signed by the Governor.

Fannie Mae's workers had $116 million in the employee stock ownership plan at the end of 2006. Today, it's more like $17.5 million. Ouch. The employees of Fannie Mae, and those of its counterpart Freddie Mac, are reeling from financial blows themselves as the mortgage finance companies lurch toward what could be a government bailout. Both firms ladled out hefty servings of stocks and options to reward and compensate employees -- making them popular employers for years. [ABSTRACT FROM PUBLISHER]