Minnesota’s Retirement Savings Crisis

MinnPost Panel, April 7, 2017

In 2014, the Minnesota Legislature passed the Women’s Economic Security Act, directing the Minnesota Management and Budget to report on potential options for establishing a state-sponsored plan. The report was presented on March 24, 2017. On March 31, 2017, the Legislature introduced HF 2570 and SF 2303, the Minnesota Secure Choice Retirement Act to establish a public-private partnership model to provide a way for Minnesotans without access to employer-sponsored retirement savings plans to save for retirement.

On April 7, 2017, CRI’s Executive Director Angela Antonelli participated in a forum held in St. Paul, Minnesota, to discuss the retirement savings crisis in Minnesota and ways that a state-administered savings plan could help Minnesotans without access to employer-sponsored retirement savings plans. Also featured were: Doug Loon, President, Minnesota Chamber of Commerce; Emily Piper, Commissioner, Minnesota Department of Human Services; and Teresa Rasmussen, President, Thrivent Financial. A video of the event may be viewed here.