On April 19, 2012, the Aspen Institute Initiative on Financial Security (Aspen IFS) held a Congressional briefing on “Regaining Momentum: America’s Retirement Savings Policy” in the Capitol Visitors’ Center. In conjunction with National Retirement Planning Week ®, the briefing brought together the architects of last major retirement savings policies, Senator Ben Cardin (D-MD) and Senator Rob Portman (R-OH), to reflect on successes and unfinished agendas in past policies and offer broad thoughts about future retirement savings policy. Following the senators’ remarks, featured experts offered their thoughts on what future retirement savings policies should address. Speakers included William Chetney, Executive Vice President, Retirement Partners, LPL Financial; Jeff Cruz, Executive Director, Latinos for a Secure Retirement Coalition; Karen Elinski, General Counsel, Government Relations, TIAA-CREF; Cristina Martin Firvida, Director, Economic Security, AARP; Janice Gregory, President, National Academy of Social Insurance; Christine Marcks, President, Prudential Retirement and Lisa Mensah, Executive Director, Aspen Institute Initiative on Financial Security.
“The federal government has a role to foster an environment that encourages more Americans to save for retirement,” says U.S. Senator Ben Cardin, a member of the Senate Finance Committee. “We started to accomplish this with the passage of the Portman-Cardin legislation while Senator Portman and I were members of the House, but there is still more to be done. We need robust policies that will incentivize private savings while we also sustain a strong Social Security system.”
“As policymakers grapple with budgets and future tax policies, we have maybe a once in a decade opportunity to bring all Americans into the nation’s savings system with accounts, and fair and robust incentives to save,” says Aspen Institute Initiative on Financial Security’s Lisa Mensah.