— Voluntary Workplace Retirement Savings Option Could Help Millions, Especially Communities of Color; AARP Urges Lawmakers to Include in Final Budget ALBANY, N.Y. – AARP New York State Director Beth Finkel issued the following statement today in reaction to Governor Andrew Cuomo’s 2018-19 State Budget Proposal: “Millions of middle class, working New Yorkers will have an effective way to save for retirement at work thanks to Governor Cuomo’s state budget proposal to create a savings option for private sector employees whose …

— Investors seeking services from a professional financial advisor will benefit from a new free online tool, AARP Interview an Advisor™, launched by AARP and the North American Securities Administrators Association (NASAA). The new resource is designed to take the guesswork and mystery out of the process of interviewing and hiring a financial advisor. It walks the user through a short series of suggested questions to ask a financial professional as part of the process of the hiring decision. Included are …

— 69% of companies that don’t offer a plan say cost is a concern; “Secure Choice” would afford them a state-facilitated option Nearly three quarters of New York small businesses that don’t offer their employees a retirement savings plan would likely do so if a state-facilitated option existed, according to a new survey commissioned by AARP. More than half of New York’s private sector workforce – over 3.5 million New Yorkers – lack access to a retirement savings plan such as …

— Employees are much more likely to save for retirement if they can do so through automatic payroll deductions. Yet more than 55 million U.S. workers do not have access to a savings plan at work. When the state legislature convenes in January, AARP Tennessee will be pushing for Work and Save, a program that would make it easy for small businesses that do not currently offer a 401(k) or similar plan to give workers a way to put money aside …

— Editor’s Note: Our COO Scott Frisch was in Portland and gave this speech to a group of HR professionals on the value of older workers, the longevity economy – and the new OregonSaves program. In preparing my remarks on the value of older workers, my mind turned to a recent event halfway across the country, in Omaha: the annual Berkshire Hathaway shareholders meeting that Warren Buffett held recently. With a net worth of about $75 billion, Warren Buffett is not …

— Retirement isn’t as simple as reaching age 65 and quitting your job. It takes planning and the earlier you start the better. You need to think about when to take Social Security,  how to pay for health insurance, and how much you can spend on living expenses and just enjoying life. That’s why AARP Hawaii is holding a free “Think of Your Future” workshop in Kailua-Kona on Saturday, August 26. The workshop runs from 9 a.m. to noon at the …

4 States

— Senate Prepares to Vote on H.J. Resolution 66:  Time to Let States Lead Today, a secure retirement is out of reach for millions of Americans and nearly 800, 000 working Kentuckians. The issue is 55 million Americans don’t have a way to save for retirement at work, even though people are 15 times more likely to save if they can put money aside directly from their regular paycheck. Those who do not save enough for retirement risk becoming dependent on …

retirement savings

— Today AARP Nevada released a new report showing that Nevada could save taxpayers $24,048,204 over the next 15 years by helping people save more of their own money for retirement. AARP is working to create access to private savings vehicles for the 569,332 Nevadans who lack access to a workplace retirement savings plan, like a 401(k), by setting up programs that are similar to 529 college savings plans for retirement “Too many small business employees don’t have a way to …

— Join AARP Colorado for its free Financial Resilience seminar in Fort Lupton on May 15 to discuss how to get the most out of your retirement savings. Whether you are still working, or getting ready to collect Social Security, we introduce you to the tools to help you calculate what you have and what you’ll need. We also help you find real advice about collecting your benefits, how to save more money and how to cut down on unnecessary costs, so you may experience …

—   The U.S. Senate is considering a measure to deny states the flexibility they need to set up retirement savings options if they so choose. House Joint Resolution 66 repeals an important Department of Labor rule providing guidance to states desiring to work with small business owners to set up retirement savings programs for their employees. AARP Idaho will be hosting Idaho Treasurer Ron Crane to discuss this and other important financial topics through Facebook live. This will be an …