Tell the Lawmakers That All Rhode Islanders Deserve Access to a Retirement Savings Plan at Work
Over 172,000 Rhode Island workers do not have access to a retirement savings plan through their employer. Saving for retirement is essential to our financial security as we grow older, as Social Security was never intended to be a retired person's sole source of income. The rising cost of goods and services are putting even more strain on the budgets of older Rhode Islanders. And the earlier that you start saving, the better off you will be as you approach your retirement years.
This is why we need Secure Choice (Senate Bill 545/House Bill 5417) in Rhode Island. Secure Choice is a state-sponsored retirement savings program that would offer an Auto-IRA (Individual Retirement Account) plan to employees of businesses who do not offer a retirement savings plan. This program is provided at no cost to the employer and is fully portable, meaning it follows you from job to job. Workers are 15 times more likely to save for retirement if it can be done through their employer, 20 times more likely to save if it is done through automatic withdrawal.
Secure Choice would allow more Rhode Islanders to save, improving the long-term financial outlook for themselves and their families. Secure Choice would also lead to millions of dollars in savings to the state due to fewer people having to depend on public assistance programs.
Tell the Senate Finance Committee why access to retirement savings are important to you! Fill out the form to the right of the screen and make sure to edit your messages to the committee by typing your reasons for supporting this program into the text box below.
RECIPIENTS:
- Senate Senator
- State Representative
