There is a major problem facing those who are getting ready to retire. Far too many workers have not been able to contribute to their future because their employer did not provide a pension or they were self-employed. On top of that, the other two legs of the retirement stool - personal savings and Social Security - are not enough to sustain a dignified retirement.

State legislators can fix this issue by supporting Senate Bill 54, which would create a voluntary public retirement plan. Under the proposed language, workers in Connecticut who do not have access to a retirement plan through their employer would be able to deposit a percentage of their annual salary into a retirement savings trust fund. The plan is portable, so workers could take their investment with them as they moved from job to job.

This plan has low administrative costs, because of its not-for-profit structure administered through the state; whatever administrative costs are associated with the plan are charged to the participants themselves, not Connecticut taxpayers.

We need our state lawmakers, who were elected by the people and for the people, to pass SB 54 and send it on to Gov. Malloy for signature.