SIFMA submits comments to the Rhode Island House Committee on Labor on state run retirement legislation H. 7219. This legislation would create a state run IRA plan for private sector workers to be managed by the Department of Labor and Training. SIFMA agrees that there is a retirement savings challenge in this country; however, SIFMA does not believe that the proposed state run retirement savings plan is the appropriate solution.
SIFMA, Alliance for Digital Innovation, American Bankers Association (ABA), American Public Power Association, Bank Policy Institute (BPI), Business Roundtable, Business…