State bill necessary to help retirement savings
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.
Stories that may interest you
Historic downtown Mystic streets are beginning to resemble a war zone! In case anyone has not noticed, the downtown Mystic residential streets look horrible. The Groton Public Works Department has torn up these streets and water hydrant areas and haphazardly repaved them. The paving is...
The juxtaposition of articles with pictures on the front page of a recent paper has solidified my thinking that the proposed Coast Guard Museum belongs at Fort Trumbull rather...
Every country has the right to decide whom they allow to enter. We may or may not agree with their reasoning, but that is irrelevant. A sovereign nation is well within its rights to determine the conditions for itself. This is certainly applicable in the case of Israel barring U.S. Reps.
Your recent article, “Norwich clergy group working on meeting with Tigers’ owner,” (Aug 21), on Miles Prentice, owner of the Connecticut Tigers team and a...