Over the past few weeks, I have looked at and broken down a recent report by the Pew Charitable Trusts called Small Business Views on Retirement Savings Plans. Pew surveyed more than 1,600 small- and medium-sized businesses (either owners or managers) to learn more about their challenges and reasons for providing retirement savings plans for their employees. To get a full picture, they surveyed employers who both did and did not provide plans.
Small-and medium-sized businesses make up 99.7% of American businesses, with nearly 29 million businesses employing 56 million people. But only 40% of full-time employed Americans have the opportunity to participate in an employee-sponsored retirement savings program.
When I was a recent college graduate who had gotten her first “real job” in 1999, I received some solid “real world” advice: start saving for retirement now. I saw the projected numbers, and at 22 years old I was ready to start putting money aside, but the small business I worked for didn’t offer a retirement plan. That first year my salary was less than $20,000, I was newly engaged and my money was directed towards a wedding and an apartment. Even with the best of intentions, taking a portion of my paycheck and setting it aside simply didn’t happen.
Topics: Retirement Plans
In an effort to grow the economy through pro-business policies, President-elect Donald Trump has promised to pare down big government in favor of fewer regulations. There are many question marks as we roll into 2017, many of which won’t be answered for months to come.
Last week President-elect Donald Trump announced his pick for Secretary of Labor, fast-food executive Andrew Puzder. During the campaign, both Trump and Hillary Clinton stated they would support state-run IRA programs once in office. Does the appointment of Puzder change this?
As we roll into December, the election is nearly a month behind us and the country is waiting to see what President-elect Donald J. Trump’s administration will do over the next four years. Trump and his transition team are in the process of selecting Cabinet members, of which only a few have been announced (this New York Times article) has a list that is regularly updated). As of this blog post, one of those positions that hasn’t been announced yet is Secretary of Labor. So there are quite a few unknowns. Will the President Trump the Fiduciary Rule?
This post is the eighth in our series focusing on individual state-run retirement programs and it looks at Oregon, the Beaver State. If you missed them, catch up on the first seven posts, plus an overview of state-run retirement programs: Connecticut, Maryland, New Jersey, Washington, California, Illinois, and Massachusetts.
We turn our attention to the Constitution State this week as we look at Connecticut’s state-run retirement program. Here are the previous posts in this series: Maryland, New Jersey, Washington, California, Illinois, Massachusetts, and an overview of state-run retirement programs.
Maryland, our nation’s seventh state, is the focus of this week’s state-run retirement plan series. Check out previous blog posts: New Jersey, Washington, California, Illinois, Massachusetts, and an overview of state-run retirement programs.
This week’s state-run retirement plan series focuses on the Garden State of New Jersey. Past blog posts: Washington, California’s, Illinois, Massachusetts, and an overview of state-run retirement programs.