Help Your Employees Save for Retirement
Posted on 10/02/24
People are 20 times more likely to save for retirement if contributions are automatically deducted from their paychecks. Minnesota’s Secure Choice Retirement Program is a new state-sponsored plan designed to help small businesses offer employees an easy way to save for their future. Set to launch after January 2025, Secure Choice is:
- Easy to administer
- Zero employer fees
- No fiduciary responsibility
- Voluntary for employees
On November 13, AARP Minnesota and the Minneapolis Regional Chamber hosted an insightful conversation on Secure Choice. Watch the replay for to learn how Secure Choice can benefit your business and help hard-working Minnesotans build a secure future. To stay up-to-date on Secure Choice, visit lcpr.mn.gov.
Retirement Savings Made Easy
Secure Choice Webinar Replay
Panelists:
Panelists:
- Erin Leonard, Secure Choice Board Member and Executive Director of the Minnesota Retirement System
- Susan Lenczewski, Executive Director of the Legislative Commission on Pensions and Retirement
- Mary Jo George, AARP Associate State Director of Advocacy
- Erik Forsberg, Owner of Devil’s Advocate Restaurant
- Maddy Fischer, Minneapolis Regional Chamber
Retirement Savings Made Easy: Secure Choice
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Approved by state lawmakers in 2023, the Minnesota Secure Choice Retirement Program will allow employees who don’t have access to a retirement savings plan, such as a 401(k), at their jobs to contribute to an individual retirement account via automatic payroll deductions.
The expectation of a comfortable retirement is no longer a reality for far too many Americans, especially those who work for small businesses. Minnesota is part of a national movement seeking to reverse this trend. AARP Minnesota is calling on lawmakers to pass the MN Secure Choice Retirement Program (HF 782; Becker-Finn /SF 413; Pappas), which allows workers to set aside wages through an easily accessible savings program.
