Half of U.S. workers do not have access to a retirement plan at work other than Social Security. We must continue to fight in Congress to strengthen that fundamental program, but other forms of retirement savings will remain important for long-term economic security, especially as our population ages. The modern workforce is highly mobile among jobs, making portability key.
Building on our 2015 Legislative Agenda, EOI has set out the following policy goal for 2015:
Establish a state-administered retirement savings plan for workers in small businesses. The Washington Small Business Retirement Marketplace will enable small businesses and their workers for whom the current private sector options are too complex and pricey, to begin retirement savings.
Progress: Senate Bill 5826 (Creating the Washington small business retirement marketplace, sponsored by Sen. Mullet) was heard by the Senate Committee on Financial Institutions and Insurance and passed out of committee in mid-February. The bill has been referred to the Senate Ways and Means Committee. Companion legislation in the House (House Bill 2109, sponsored by Rep. Springer) was heard by the House Appropriations Committee in late February.
More To Read
March 20, 2024
I-2111: The Income Tax Ban Is A Spectacle, but One We Can’t Ignore
A way to waste time, energy, and money, I-2111 is costing more than just taxes
March 20, 2024
Let’s Go Washington: Three initiatives threatening to roll back years of progress
Here’s what you need to know about the initiatives on your November ballot
March 12, 2024
Washington’s Women Are More Protected This Equal Pay Day
Thanks to an update to the state's wage discrimination protections, Washington woman are closer to closing the wage gap