US. workers want laws to simplify saving for retirement
A new AARP survey of almost 4,000 workers ranging in age from 18 to 64 found widespread support (84 percent) for laws that make it easier to put money away for retirement. That support cuts across political lines: 89 percent of self-described liberals, 86 percent of moderates and 82 percent of conservatives agreed.
Today, 55 million Americans do not have access to retirement accounts that automatically save money from their paychecks, such as employer-sponsored 401(k) accounts. Low-income workers are especially at risk.
To address that problem, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Oregon and Washington have passed legislation to launch state-based plans for workers who do not have access to workplace retirement plans. Many other states are considering it.
Meanwhile, the US Senate is considering legislation that could block those efforts.
AARP supports the state-sponsored “work and save” programs that make it easier for employers to offer retirement savings accounts to employees by removing regulatory barriers.
Full Content: AARP
