Retirement Savings
2013-01-31T10:03:45-05:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvY2Y1XC8yMDEzMDEzMTEwMDUxNzAwM19oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Retirement specialists testified on the state of workers' retirement funds. According to a Senate Health, Education, Labor and Pensions Committee study, the difference between what Americans had saved for retirement and what they should have was $6.6 trillion, and half the population had under $10,000 in savings. Committee Chair Harkin spoke about his proposal for a privately retirement plan that would make it easier for employers to offer retirement plans without additional risk. Witnesses recommended automatic enrollments in work-based plans and increased contributions, especially as people age. Other topics included simplifying the system and financial literacy education.
Retirement specialists testified on the state of workers' retirement funds. According to a Senate Health, Education, Labor and Pensions Comm… read more
Retirement specialists testified on the state of workers' retirement funds. According to a Senate Health, Education, Labor and Pensions Committee study, the difference between what Americans had saved for retirement and what they should have was $6.6 trillion, and half the population had under $10,000 in savings. Committee Chair Harkin spoke about his proposal for a privately retirement plan that would make it easier for employers to offer retirement plans without additional risk. Witnesses recommended automatic enrollments in work-based plans and increased contributions, especially as people age. Other topics included simplifying the system and financial literacy education. close
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