Wall Street Wins: Republicans Vote To Block States From Offering Low-Cost Retirement Savings Plans To Millions Of Workers

[ibtimes.com] Wall Street Wins: Republicans Vote To Block States From Offering Low-Cost Retirement Savings Plans To Millions Of Workers – The Department of Labor rule at issue — which was enacted by the Obama administration — sought to clarify federal statutes and protect the legal status of state-based retirement savings plans. Eight states have already taken action to create such plans, which threaten to reduce the profits of financial firms by creating a low-fee option for workers’ retirement savings. Twenty-three million workers in those eight states do not already have retirement savings coverage, according to a new analysis by labor economist Teresa Ghilarducci.

“If Republicans succeed in rolling back DOL regulations, they will destroy the best chance 63 million American workers have of getting access to a retirement plan,” said Ghilarducci, who estimated that another 40 million Americans without coverage would also be prevented from accessing low-fee retirement savings plans if the GOP bill becomes law. “These states took the responsible first step to save their residents from a retirement crisis defined by low coverage and inadequate savings and protect their taxpayers from the fiscal crisis resulting from millions of indigent elderly. This would be a painful step backwards for the millions who are shut out from the dwindling number of employer-sponsored plans.”

Advertisements
Maruti Suzuki Workers Union

Inquilab Zindabad! Mazdoor Ekta Zindabad!

The Syrian Intifada

a-shab yurid iskat an-nizam

In Moscow's Shadows

Analysis and Assessment of Russian Crime and Security

thekooriwoman

Gomeroi. This is MY truth.

Secular Pakistan

No Talibanisation, 'Honour' Killings, Blasphemy Vendetta

Transform Society

A site that educates & inspires souls

Ahona

Mariam Zohra D

My Name is Jamie. My Life in Prison

Letters shared with Sonni Quick

Free Haifa

Reading, Writing and Freedom Arithmetics

A Black Writer in Berlin

The official blog of Phil Lewis, award-winning novelist, essayist, poet, critic, artist and composer

Why You Mad Son Entertainment

join the revolution of the mind

bedlamfury

Thoughts, Random Senses

Ramblings...

Conquering Kids and cancer

The Rojava Report

News from the Revolution in Rojava and Wider Kurdistan

rob's revolting

The colonies are self-destructing - it's a scorched earth policy, a war of attrition, so the survivors are left with NOTHING!

Liwen ñi Mapu & Asoc. Colectivo. Red de Noticias e Información sobre Pueblos Indígenas, Derechos Humanos.

Portal y Red de Noticias e Información sobre Pueblos Indígenas, Derechos Humanos, Participación y Representación Política, Empowerment, Desarrollo y Progreso Humano y +

ΝΕΑ ΧΩΡΙΣ ΦΙΛΤΡΟ ΦΕΛΛΟΥ

Νέα και Παράξενα-Σελίδες εναλλακτικής πληροφόρησης και ειδήσεων-alternative informations