FOR MORE INFORMATION, CONTACT:
Lauren Mullins, Senior Director of Communications
(Coral Gables, FL, January 31, 2024) – The Georgetown University Center for Retirement Initiatives (CRI) has kicked off its 6th annual State-Facilitated Retirement Savings Program Network (SRSPN) Conference, highlighting retirement milestones such as the first multi-state partnerships and recognizing outstanding national and state leaders who have made important contributions to advancing retirement security. The CRI also announced three new Non-Resident Scholars.
“There is certainly much to celebrate this year,” said Angela Antonelli, executive director of the Center for Retirement Initiatives. “State-facilitated retirement savings programs have made tremendous strides in helping American workers save for retirement. Our 2023 year-end data shows that programs have amassed more than $1.2 billion combined in more than 802,000 total funded retirement accounts, with several additional state programs still to launch in 2024. In addition, four new state programs were enacted – Minnesota, Missouri, Nevada and Vermont – bringing the total number of programs to 19.”
“We are thrilled to see this rapid success and look forward to sharing best practices with states working to reach similar goals,” said Antonelli. “We applaud collaborative initial multi-state partnerships between Colorado, Delaware and Maine that were established in 2023, which will help programs launch even more quickly to offer low-cost, portable retirement savings vehicles to workers without access to a savings plan. For example, the Maine Retirement Investment Trust program is newly open to all eligible employers, and we expect to see more programs and partnerships in 2024.”
At the conference, U.S. Representative Richard E. Neal of Massachusetts was honored with the 2024 CRI Visionary Award for his leadership and commitment to strengthening retirement security. As Chairman of the House Ways and Means Committee, Congressman Neal introduced and led the charge on delivering the SECURE 2.0 Act, bipartisan legislation aimed at increasing participation in work-based retirement savings that was enacted into law in late 2022.
Delaware State Treasurer Colleen C. Davis was honored with the 2024 CRI Distinguished State Leader Award for her role in the successful development and bipartisan legislative enactment of the Delaware Expanding Access to Retirement and Necessary Savings (EARNS) program, and for her work in forging Delaware’s first-of-its-kind partnership with Colorado.
“I am honored to be recognized with this award,” said Davis. “For nearly 10 years now, Angela Antonelli and the Georgetown University CRI team have been bringing states together, regardless of where they are in the process and regardless of the politics. CRI policy research around partnerships more than six years ago helped lay the groundwork for what we are seeing today.”
In addition, 2024 CRI Best of the State Spotlight Awards were awarded to Maine Retirement Savings Board (MRSB) Executive Director Elizabeth Bordowitz for her work implementing the Maine Retirement Investment Trust (MERIT) and forging the first-in-the nation partnership with Colorado; and Connecticut Retirement Security Program (CRSP) Executive Director Jessica Muirhead, for her work to successfully launch and grow the MyCTSavings program. For more information on all award winners, click here.
The CRI also announced three new Non-Resident Scholars who will collaborate with the CRI on research projects related to coverage, investments, and lifetime income. The Scholars are Dr. Adam Bloomfield, a Senior Economic Policy Advisor at the Federal Deposit Insurance Corporation (FDIC); Kevin Crain, Former Head of Retirement Research & Insights at Bank of America; and Catherine Reilly, former Global Head of Research for Defined Contribution at State Street Global Advisors.
The CRI has hosted its State-Facilitated Retirement Savings Program Network (SRSPN) Conference annually for six years. The Conference brings together state executives, legislators, and other key stakeholders to share legislative developments and best practices for state retirement savings programs. The next SRSPN conference will take place in January 2025.
About the Georgetown University Center for Retirement Initiatives
The Center for Retirement Initiatives is a research center of the McCourt School of Public Policy at Georgetown University, one of the top-ranked public policy programs in the nation. Through its academic reputation and ability to engage with policymakers, business leaders, and other stakeholders, the McCourt School attracts world-class scholars and students who have become leaders in the public, private, and nonprofit sectors. The CRI is dedicated to strengthening retirement security by expanding access and coverage for the private sector workforce; providing thought leadership and developing innovative new approaches to retirement savings, investment, and lifetime income; and serving as a trusted policy advisor to federal, state, and local policymakers and stakeholders.