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Social Security is only one strong leg to stand on
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Social Security has reliably delivered benefits to millions of people for over 50 years, and can continue to do so for generations to come. It is one - strong - leg of the retirement "stool" upon which Americans rely.
The other two "legs" are workplace-based retirement plans and personal savings. But today, about 50% of all working Americans are not covered by a retirement plan at work. Employees of small- and medium- sized businesses are most at risk of going without access to a workplace-based retirement plan, because small businesses few low-cost, well-managed, scalable and portable retirement plans are available on the market.
To bridge that gap, EOI is working with agencies and organizations here in Washington and across the country to create safe, portable retirement options for today's workers, called Universal Voluntary Retirement Accounts.
Recent Publications and News Highlights
Making it easier to save for your retirement
05.18.2009
| Universal Voluntary Retirement Accounts 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
a way to save for retirement.
WVAs: Creating Universal Access to Retirement Security
2.15.09
| Outlines a plan for Washington State operated employer- and employee-
based retirement accounts to provide increased retirement security
for workers. Read
»
Opinion: Social Security: One thing that’s working
02.16.2009 | Wenatchee World | "Round up everybody that can ride a horse or pull a trigger," John Wayne says in "Chisum." "Let's break out some Winchesters." That's how I feel every time someone calls for "saving" Social Security. Read »
Success Story
With our partners, EOI began a statewide campaign to educate Washington citizens about the dangers of Social Security privatization. We delved into the data and showed Social Security was – and is – on sound financial footing far into the future.
Profile
John Balkenhol's pension disappeared just when he needed it most.
Policy Focus
Economic security for everyone who works - now and in the future
Social Security has been a success for seven decades - and the program can easily continue to provide economic security to all Americans through the 21st century.
A secure retirement for every worker in Washington State
Using payroll deductions and optional employer contributions, WVAs will provide an easy way for individuals to save for retirement, and help small businesses make a retirement plan available to their workers.
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