Lisa J. Bleier on Retirement Savings Plans for Low-Income Private Sector Workers, Connecticut

Testimony of SIFMA Managing Director, Public Policy and Advocacy Lisa J. Bleier before the Connecticut Joint Committee on Labor and Public Employees hearing on S.B. 54, An Act Establishing a Retirement Savings Plan for Low-Income Private Sector Workers. SIFMA believes the bill is a step in the wrong direction because it would burden the State with additional costs and liability and compete with the private market, which today provides various individual retirement account options for employees who are ready to contribute a percentage of their annual salary towards retirement.