Sarah Mysiewicz Gill, an AARP Senior Legislative Representative (seated at right), testifies in favor of Senate Bill 236, which would help Arkansans save for retirement, as the bill’s lead sponsor, Sen. Jake Files of Fort Smith, and numerous AARP Arkansas volunteer advocates in the audience look on.

An estimated 530,000 Arkansans—over half of Arkansans age 18 to 64—do not have access to a retirement savings plan through their employer.  Senate Bill 236, which passed the Arkansas Senate Revenue and Taxation Committee today, would help address this issue by creating the Arkansas Small Business Voluntary Retirement Program.

Under SB236, businesses with up to 100 employees could create voluntary retirement savings accounts for employees, helping them take charge of their financial futures and live independently as they age. The accounts would be portable, meaning employees could take these “Work and Save” accounts with them when they switch jobs.

The next step for SB236 is consideration by the Arkansas Senate. SB236 is among AARP Arkansas’ 2017 legislative priorities.

Also testifying in favor of Senate Bill 236 was Herb Sanderson (seated, right) AARP Arkansas State Director.

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