NCSL Foundation Partnership on Retirement Security

5/19/2016

NCSL Foundation Partnership on Retirement Security

Many Americans are not saving enough for a secure retirement.

In recent years, several states have created new state-sponsored retirement savings programs for private sector workers, and a number of other states have studied the creation of such plans.

As state leaders debate how to structure programs to enhance retirement savings, protect consumers and employers, and capitalize on existing market options, the U.S. Department of Labor has issued new guidance and a proposed rule designed to clarify how states can move forward and comply with federal law.

The NCSL Foundation Retirement Security Partnership will explore the state programs that are being implemented now, as well as other policy alternatives. This project is designed to link legislators, legislative staff and NCSL Foundation partners through a well-informed dialogue and to develop useful materials and high-quality educational experiences to aid state leaders in their decision-making.

Steering Committee Members 

Legislator Members

  • Senator Todd Weiler (R-Utah) (Co-Chair)
  • Representative Joe Aresimowicz (D-Connecticut) (Co-Chair)
  • Representative Dan Flynn (R-Texas)
  • Representative George Keiser (R-North Dakota)
  • Senator Richard Madaleno (D-Maryland)
  • Senator Sandra Pappas (D-Minnesota)
  • Senator Ryan Silvey (R-Missouri)

Legislative Staff Members

  • Jan Nordlund, Legislative Committee Services (Oregon) (Co-Chair)
  • Robert Melcher, Office of Legislative Services (New Jersey)

NCSL Foundation Partner Members

  • AARP
  • American Council of Life Insurers
  • American Retirement Association
  • Insured Retirement Institute
  • The Pew Charitable Trusts
  • Securities Industry and Financial Markets Association
  • TIAA
  • Wells Fargo

 

Partnership Events

The NCSL Foundation Retirement Security Partnership is sponsoring the closing plenary lunch session at NCSL's Capitol Forum on Friday, Dec. 9, 2016.

What:

Retirement Readiness in the 21st Century: State-Sponsored Retirement Savings Programs and Private Sector Policy Innovations

Which Americans are ready for retirement? Which aren’t? How are states crafting and implementing their own retirement savings programs to boost retirement savings for private sector workers? How are they working to avoid ERISA liability (or embrace it) in light of new federal regulations? How can they protect consumers, minimize burdens for employers, and manage their own legal and financial risks? How are financial services providers innovating and partnering with states to expand coverage and insure savers receive adequate lifetime income?

When:

Friday, December 9

11:45 a.m. to 1 p.m.

The NCSL Foundation Retirement Security Partnership sponsored the NCSL Foundation Retirement Security Symposium on Monday, Aug. 8, 2016.

What:
NCSL Foundation Retirement Security Symposium
Many Americans are not saving enough for a secure retirement. In recent years, some states have adopted state-sponsored retirement savings programs for private sector workers, and others are exploring alternative approaches to encourage workplace savings. Join state policymakers, along with experts from leading financial institutions, research and advocacy organizations, as they explore ways to enhance retirement savings, protect consumers and employers, and make the most of existing market options.
 
When:
Monday, August 8
7:30 a.m. to 1 p.m.
 

Key Links and Resources

Partner Resources

AARP State Retirement Savings Resource Center

ACLI U.S. Retirement Facts

Insured Retirement Institute Research and Education Webpage

Resources for National Retirement Planning Week (April 3-7, 2017)

The Pew Charitable Trusts Retirement Savings Project

Other Resources

Bipartisan Policy Center Commission on Retirement Security and Personal Savings

The Brookings Institution Retirement Security Project

Center for Retirement Research at Boston College

Georgetown University Center for Retirement Initiatives

Heritage Foundation Retirement Security Project

Individual Reports, Studies, Briefs and Fact Sheets

State Auto-IRA Programs: The Keys to Financial Self-Sufficiency | Center for Retirement Research at Boston College

Voices of Experience 2016: Insights on Life in Retirement | TIAA

Retirement Security: Federal Action Could Help State Efforts to Expand Private Sector Coverage | U.S. Government Accountability Office

NCSL Materials

Blog | What States Can Do For Retirement Readiness

LegisBrief | Retirement Security in the States