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What You Need to Know About the Secure Choice Program

Posted on 02/12/18 by Stacey Kratz, AARP New York

Did you know more than 3.5 million New York workers have no access to a retirement savings plan at their workplace? That’s why Governor Cuomo has taken the first step to create a pathway for New Yorkers to save for retirement by including the Secure Choice program in his state budget proposal. We have until April 1, 2018, to make sure that this program remains in the New York State budget and become law.  Urge your legislators to ensure this important initiative remains as part of this year’s final state budget.

What is the Secure Choice program?

The program is a workplace retirement savings option for employees who now have no way to save through their workplace. Secure Choice will be a public-private partnership between the state and a professional financial institution.

What can YOU do to help?

AARP is fighting for this common-sense solution to become law because it will help workers save for their retirement so they can take control of their financial future.

New Yorkers will have the benefit of a convenient and effective way to save on the job – and the option to continue saving if they change jobs. If companies choose to participate, their employees could invest in individual retirement accounts (IRA) through payroll deduction – and it won’t cost taxpayer dollars to run. Three of every four New Yorkers say they favor the creation of such a savings program.

Now is the time to let our legislators know we need the Secure Choice program. Urge your legislators to ensure this important initiative remains as part of this year’s final state budget.

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