Tuesday, August 3, 2021

Play

Public health experts are concerned many kids have missed important checkups and vaccinations, and a third DC Police officer who responded to the January 6 insurrection takes his own life.

Play

The White House calls for states to rescue renters, Senators dissect a massive infrastructure plan, and both the White House and Congress are losing approval in the eyes of voters.

Retirement Security a Focus of State Lawmaker Summit

Play

Monday, August 3, 2015   

SEATTLE – State legislators from around the country are meeting in Seattle today and one of the topics is how to help people save for retirement.

Both Washington and Oregon have taken steps this year to launch workplace savings plans for employees of small businesses.

At the National Conference of State Legislators Summit, AARP plans to encourage other states to do the same.

Elaine Ryan, AARP vice-president for state advocacy and strategy integration, says her message is that Congress can't be counted on to agree on a national plan, and states have a huge stake in their residents' financial security.

"If we don't help people find a way to save for their own futures, they will end up being a burden to government programs,” she states. “Some of our polling shows that 82 percent of small businesses would offer retirement savings if it were simpler."

Washington's Small Business Retirement Marketplace is being developed now, with a start date of 2017.

Ryan says Illinois was the first state to create such a plan, Connecticut and Minnesota are looking into it, and Utah and Virginia are studying the effects of poverty in retirement.

A related issue is fees and commissions on retirement investments. Starting next week, the U.S. Labor Department takes public comments on a new Conflicts of Interest Rule, with stricter guidelines for financial advisers and insurance agents about acting in their clients' best interest.

Ryan says AARP supports the rule.

"We know those hidden fees erode people's lifetime retirement savings – as much as 25 percent could be lost in your lifetime of savings, to those types of fees," she points out.

The Labor Department says the current guidelines for retirement investment advice were passed in the 1970s, before IRAs or 401K plans had been created.

AARP has set up a Web page for people to comment on the Conflicts of Interest Rule proposal.



get more stories like this via email

The commission charged with drawing Ohio's 99 House and 33 Senate districts meets this week. (Adobe Stock)

Social Issues

COLUMBUS, Ohio -- New congressional and legislative maps will soon start to take shape in Ohio. The Ohio Redistricting Commission convenes for the …


Social Issues

DENVER -- Today marks the day Black women in the U.S. will finally earn as much as a white, non-Hispanic man was paid in 2020. Ashley Panelli…

Environment

CHICAGO -- As Illinois residents get ready for more high temperatures this August, utility watchdogs are urging people to practice energy efficiency …


Chronic wasting disease can be transmitted between deer, along with food and soil contaminated by bodily fluids. (Adobe Stock)

Environment

WARREN, Pa. -- A temporary animal-feeding ban is being proposed for the Allegheny National Forest after a captive deer tested positive for chronic …

Social Issues

LOS ANGELES -- Hunger-fighting advocacy groups are speaking out in California, drawing attention to the continuing problem of food insecurity…

A new report from Georgetown University and the American Academy of Pediatrics recommends a coordinated and far-reaching public health campaign about childhood vaccinations. (Adobe Stock)

Social Issues

SACRAMENTO, Calif. -- Parents are gearing up for their children to return to the classroom for the first time in over a year, and public health …

Environment

LITCHFIELD, N.H. -- A 63-acre parcel of land along the Merrimack River is becoming part of the New Hampshire Agrarian Commons. The property, known as …

Social Issues

RICHMOND, Va. - Virginia's General Assembly Special Session begins today to budget more than $4 billion in federal COVID relief funds, and advocates …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021