Thank State Lawmakers for Helping More New Mexicans Save for the Future
Nearly 62 percent of New Mexicans – 336,000 workers – don't have access to a retirement savings plan at work, leaving them in danger of not being able to afford their basic needs in their later years.
To bridge this gap, Gov. Lujan Grisham and state lawmakers recently passed the New Mexico Work and Save Act to provide a convenient way for people to save on the job out of their regular paychecks and to continue saving if they change jobs.
Under the leadership of State Treasurer Tim Eichenberg, The New Mexico Work and Save Act will provide businesses with a voluntary way to access an automatic, low-cost retirement savings option for their employees. Work and Save also provides a new online marketplace where employers, who want to offer another option, can easily find and compare low-cost retirement savings options.
HB 44 is a bipartisan solution, sponsored in the House by Rep. Tomás Salazar, Rep. Gail Armstrong, and Rep. Christine Chandler and in the Senate, by Sen. Bill Tallman, and Sen. Michael Padilla. The bill has a wide array of supporters including Treasurer Eichenberg; community organizations, such as Think New Mexico; AFSCME, the American Federation of State, County and Municipal Employees; and several business organizations including the state’s leading Chambers of Commerce.
By passing the Work and Save Act, Gov. Lujan Grisham and your state legislators are empowering more New Mexicans to prepare for the secure retirement they deserve. Please take a moment to thank them and Treasurer Eichenberg for taking action on this important issue.
Thank You for Empowering More New Mexicans to Save for the Future
Dear [Decision Maker],
Thank you for your role in passing the New Mexico Work and Save Act - making workplace savings options a reality for more New Mexicans.
Nearly 62 percent of New Mexico private-sector workers currently have no access to a 401(k), or any other way to save for retirement at work. Employees are 15 times more likely to save if they have the option to do so through their workplace, and now the New Mexico Work and Save Act will help give more New Mexicans a way to save.This voluntary program provides employers with a way to offer a simple, low-cost, automatic savings option to their workers if they don't already do so while giving employees an easy way to save on the job. The bill also creates an online marketplace for private-sector retirement plans. The marketplace makes it easy for small businesses to find a plan that works for them if they do not want to use the state-facilitated retirement savings option.
Thank you again for your role in passing the New Mexico Work and Save Act to help more New Mexicans take charge of their financial future.
Sincerely,[Your Name] [Your Address] [City, State ZIP][Your Email]