“Starting in 2020, the numbers of very low-income elderly will rise sharply as the retired population soars to almost 56 million. More middle-class working Americans will be poor or near poor after they reach the age of 65. Most currently have inadequate 401(k)-type accounts or no retirement account at all. For good reason, voters tell pollsters that their top economic concern is retirement security.”
That’s why in an op-ed to the New York Times, Teresa Ghilarducci, a professor of economics recommends a bolder plan, the guaranteed retirement account (G.R.A.).
Read the op-ed here: “A Smarter Plan to Make Retirement Savings Last”
In California, our Retirement Security for All (RSA) is gaining momentum. Did you know that some workers have no access to a pension or 401(k) retirement savings plan?
Secure Choice Act is a bill that would offer nearly all California workers access to a retirement savings program, a retirement plan that would follow you, even if you changed jobs. And with your help, we’re pushing to win this landmark legislation in 2016.
On January 11, the Secure Choice Board will discuss how this fund should be invested. We need to encourage the Board to pick the option that doesn’t play roulette with Wall Street, and instead focuses on guarantees for California’s future retirees. Here is a chance to help build a retirement program that works for all California workers, which is why your signature – and your story – can make the difference.
Take action today: 521.seiu.org/SB1234
Learn more about the retirement security for all and get involved: www.seiu521.org/pension-committee