Senator Wielechowski introduces Alaska’s Jobs and Savings Act to streamline retirement savings benefits for individuals and employers

Retirement


Juneau, Alaska (KINY) – Anchorage Senator Bill Wylekowski today introduced Senate Bill 135, Alaska Work to make it easier for small businesses in Alaska to offer their employees an Individual Retirement Account (IRA).・Established the And Save Program.

Senate Bill 135 also allows all Alaskans to invest Permanent Fund dividends in retirement accounts during the annual application process.

“SB 135 removes bureaucracy and bureaucracy from small businesses that want to provide retirement benefits to their employees,” said Senator Wielechowski. “By providing an easy and direct connection to retirement savings for all Alaskans, we can increase the financial security of future generations and reduce the burden on the state’s public assistance programs.”

With 57 million Americans currently without access to retirement savings, young Americans are significantly less likely to have an account. To alleviate the shortage of retirement savings accounts, 16 other states have implemented state-sponsored retirement account services, which have taken her $630 million in savings from 610,000 registered Americans. I’m here.

“AARP strongly believes that all individuals have the right to be independent and live with dignity in retirement, yet only 55% of private sector workers are able to save from their regular pay at work. There are ways to do that,” said Marge Stoneking. AARP Alaska Advocacy Director. “Employers, especially small business owners, often fail to offer retirement plans to their employees due to their confusing, costly, and time-consuming nature. and nearly all workers fail to save.Work and Save aims to help workers save their own money by using proven tools to address the retirement savings gap. It is a public-private partnership.”

Senate Bill 135 has been referred to the Labor and Commerce Committee and the Finance Committee.



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