“Work Hard. Save Easy.” How State Leadership and Innovation Are Transforming Retirement Savings
December 13, 2018
December 13, 2018
States are taking the lead to address the retirement savings crisis by introducing innovative new public-private partnerships to help provide private sector workers with simple, easily accessible, low-cost ways to save. Since 2012, more than 40 states have introduced proposals to address the problem of retirement insecurity. Of these, 10 states and one city have enacted new programs and, by the end of 2018, three of the new auto-IRA programs — California, Illinois, and Oregon — will have begun enrolling workers.
More than 10 million private sector workers in these three states — California (7 million), Illinois (2 million) and Oregon (1 million) — lack access to an employer-sponsored retirement savings plan. Their new state-facilitated auto-IRA retirement savings programs — OregonSaves, CalSavers, and Illinois Secure Choice — are already helping thousands of workers to save, many for the first time, and they are have only just begun.
Please join the Georgetown Center for Retirement Initiatives for this one-hour webinar for an update about how these three state programs are transforming the retirement savings landscape and why small businesses strongly support having the opportunity to offer such programs. The Defined Contribution Institutional Investment Association (DCIIA) and Pensions and Investments recently recognized Oregon Treasurer Tobias Read with a 2018 Excellence and Innovation Award for his leadership in creating OregonSaves, a first-in-the-nation auto-enrollment IRA dedicated to expanding savings options to more people. This innovative approach will help empower workers at every income level and their families to invest in their own futures and financial well-being.
Moderator: Angela M. Antonelli, Research Professor and Executive Director, Center for Retirement Initiatives, Georgetown University’s McCourt School of Public Policy