We need your help to keep SB133, Small Employer Retirement Program, moving toward becoming law. This bill will help Utah workers have access to retirement savings vehicles at work. The Senate voted to approve the program but it is now headed to the House. The bill is facing new opposition from groups who benefit by keeping this current market confusing and high-cost for small businesses owners.
Retirement planning during a person’s working life is crucial to having financial security after leaving the workforce. But according to an August 2015 fact sheet released by the AARP Public Policy Institute, Workplace Retirement Plans Will Help Workers Build Economic Security, approximately 50 percent of Utah’s private sector employers representing over half of a million people do not have access to such a plan at work.
Do you hope to retire one day? If you’re like most Utahns, the answer is a resounding yes. AARP surveyed 1000 Utahns age 25-64, and 89 percent hope to retire from working completely. (The survey, Making Retirement a Reality: Helping Utahns Age 25-64 Save and Take Control of Their Future was conducted in December of 2014.) Yet one in six of has less than $5000 in savings. Given that the average lifespan is now nearly 80, it’s sobering to wonder how these people will have financial security in their retirement years.
Search AARP Utah
Sign Up & Stay Connected