New Jersey Legislature Passes Secure Choice Retirement Savings Program!

On February 25th, the New Jersey legislature delivered good news to 1.7 million private sector workers in the Garden State who don’t currently have access to a retirement savings option at work. With the passage of the New Jersey Secure Choice Savings Program (S2891/A4134), hardworking Garden State residents will have a critical tool to help them grow the savings they need for a more secure financial future.

The New Jersey Secure Choice Savings Program is commonsense, bi-partisan legislation creating a public-private partnership that will provide a retirement savings option to private-sector workers who do not currently have a way to save at work. The program is voluntary, portable and will come with no on-going costs or risks for taxpayers or employers.

New Jersey is facing a retirement savings crisis. The average near-retirement worker has only $14,500 saved for retirement, and nearly 25% of older residents rely on Social Security for 90% or more of their income. With the passage of the New Jersey Secure Choice Savings Program, the legislature took an important step towards addressing this retirement savings crisis.

AARP applauds prime sponsors Senators Lagana, Singleton and Turner, Assemblymen Freiman and Mukherji and Assemblywoman Murphy for their leadership on this critical piece of legislation. We now strongly urge Governor Murphy to sign the bill into law.

Click HERE to see how your legislators voted. Then use the form below to tell your Senator or Assemblyperson THANK YOU for supporting the Secure Choice Savings Program Act.

 

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New Jersey Legislature Passes Secure Choice Retirement Savings Program!

Dear  [Decision Maker],

Thank you for passing the Secure Choice Savings Program Act. New Jerseyans, like all Americans, are facing a retirement savings crisis. I'm hoping the passage of Secure Choice will help change that.
Over 1.7 million hard-working New Jerseyans don't have a way to save for retirement through their jobs. Now, with Governor Murphy's signature, they will. And more people saving for retirement now means less reliance on public assistance in the future.
Again, thank you for passing Secure Choice. I'm eagerly awaiting Governor Murphy's signature on this critical piece of legislation.

Sincerely,
[Your Name]
[Your Address]
[City, State ZIP]