A better retirement system is critical for the economic security of Americans and for promoting small business competitiveness. Currently, half of all workers lack access to a retirement plan at their workplace. Small businesses face high administrative and cost hurdles that often prevent them from offering retirement plans to employees.
Universal Voluntary Retirement Accounts (UVRAs) are a straightforward alternative to the retirement savings dilemma facing today’s workers and small businesses. UVRAs allow any individual worker to open a low-cost Individual Retirement Account (IRA), and make it easier for small businesses to recruit and retain employees by offering them a way to save for retirement.
Benefits for workers, business and our economy:
UVRAs make retirement plans available to more Americans. Nationally, two out of three low-wage workers and one in four high wage workers continue to lack access to a retirement plan. Many individuals and business owners put off starting a plan due to the complexity of existing retirement plans and confusion over program fees.
More To Read
September 12, 2023
Except billionaires. And even they lose.
September 6, 2023
Thanks to the work of advocates, thousands of Washington workers are already getting a better deal at work
August 24, 2023
Multiple states are also fighting to tax the ultra-wealthy. Why now?