RICHMOND_AARP Virginia today released a statement from State Director Jim Dau on the Virginia House of Delegates vote Feb. 6 to pass House Bill 775, with a vote of 93-to-5. The measure now goes to the Virginia State Senate for a vote.
The bill would authorize a study to determine the needs of Virginia businesses for a Work and Save retirement program for their employees.
Dau released the following statement:
“Work and Save is a common-sense solution that can help more Virginians build their own nest eggs. Nearly half (55 million) of American workers have no access to a retirement savings plan through their employers, and 70% of workers employed by businesses with fewer than 100 employees do not have a pension or retirement plan.
“The average household only has $2,500 saved for retirement, and the average household that is near retirement has only $14,500 in savings. Work & Save provides an easy, low-cost retirement savings option to help small businesses provide a way for their employees to save and take control of their future.
“AARP Virginia thanks Delegates Hala Ayala (D-Woodbridge) and Ibraheem S. Samirah (D-Herndon) for championing the employees of businesses that do not offer retirement plans.”
With more than 1 million members in Virginia, AARP is the largest organization working on behalf of people age 50+ and their families in the Commonwealth.
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With nearly 38 million members and offices in every state, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and advocate for what matters most to families with a focus on health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.
This story is provided by AARP Virginia. Visit the AARP Virginia page for more news, events, and programs affecting retirement, health care, and more.
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