AARP Is Fighting to Protect State Flexibility on Retirement Plans

Innovative state solutions to America’s savings crisis are in danger. Federal overreach threatens an important Department of Labor rule that gives states flexibility to help workers save for retirement. Fifty-five million workers in America have no way to save for retirement out of their regular paychecks. Their employers don’t offer a retirement plan because it can be costly and complicated to do so. The problem is especially severe among communities of color. Only 54 percent of African American and Asian …

Landmark State Law Will Help Millions Retire With Confidence

Great news out of California: A new state law will help nearly 7.5 million workers retire with confidence. Signed by Gov. Jerry Brown on Thursday morning, the California Secure Choice Retirement Savings Act (Senate Bill 1234) will give millions of Californians a way to save for their future at work. It has been a long road to get to this day, and the AARP California Office has been a key leader every step of the way! California state Sen. Kevin …

The Boomer–Millennial Connection for Increased Savings

En español | What do boomers and millennials have in common? As it turns out, much more than you’d think. Last week, millennials from coast to coast were discussing state options to give 55 million workers a simple way to save. Our AARP California office hosted a “Work and Save” Summit at East L.A. College, in partnership with the  Young Invincibles, a national nonprofit, nonpartisan organization that advocates on behalf of 18-34-year-olds. In New York City, AARP teamed up for …

Let’s Give Small-Business Owners a Competitive Edge

“People give their time to their job. They shouldn’t have to fear what happens when they’re done working.”  — Molly Sumner of Kindred Companions Molly Sumner of Frenchtown, N.J., owns a small business called Kindred Companions, training dogs and selling pet supplies.  Unfortunately, Molly’s employees are some of the nearly 2 million New Jerseyans — and 55 million Americans — who don’t have a retirement savings plan through work. “It’s something I want for my employees,” Molly says, but not …

Groundbreaking Law Will Help 2.5 Million Workers Retire With Confidence

”Great news from Illinois: A new law will help 2.5 million workers retire with confidence. Signed by former Gov. Quinn this year, the Illinois Secure Choice Program gives millions of state residents a way to save for their future at work — a tool that increases savings rates by 15 times.  Upon signing the bill, Gov. Quinn shared, “This is a special … opportunity, for all of us to go forward at helping people save for retirement. Secure Choice is …

Illinois Is First State With New Savings Plan for Workers

Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program. Gov. Pat Quinn signed legislation on Sunday that creates the Illinois Secure Choice Savings Program. Employers with at least 25 workers and no retirement plan will be required to offer employees the option of enrolling in Secure Choice, which allows employees to invest in a Roth IRA through payroll deduction. Employees can decline. “This turnkey program will make it …