Aspen is a place for leaders to lift their sights above the possessions which possess them. To confront their own nature as human beings, to regain control over their own humanity by becoming more self-aware, more self-correcting, and hence more self-fulfilling.
Vice President, Aspen Institute & Co-Executive Director
Today, a bipartisan group of Senators introduced S. 3218, the Strengthening Financial Security Through Short-Term Savings Act. The bill would make it easier for employers to help their workers set up rainy day savings accounts alongside traditional retirement funds. The Aspen Institute Financial Security Program’s Executive Director Ida Rademacher released the following statement in response to today’s news:
“I commend Senators Heitkamp, Cotton, Booker, and Young for turning this promising idea into smart, carefully crafted legislation. By giving the green light for employers to automatically enroll their workers into short-term savings accounts, this bill has the potential to spur much-needed innovation, experimentation, and uptake – similar to what happened to employer-sponsored retirement accounts after the Pension Protection Act passed over a decade ago. Today’s working families need new tools to meet the unprecedented short- and long-term financial challenges they face. Sidecar rainy day savings may well do both – by building up an emergency fund while simultaneously reducing the need for premature withdrawals from retirement accounts.”
The retirement landscape is at a critical juncture, and it’s created a global opportunity — and responsibility — for us all. Evolving workplace retirement plans, increasing longevity, and changing workforce dynamics create even more demand for secure investment products and lifetime income solutions. Through hybrid approaches, innovative financial products, and a focus on financial education, we can ensure that the future of work includes the future-ready resources that people need to live better lives, longer.
In a Morning Consult op-ed, Anne Mosle discusses the historic opportunities the American Rescue Plan offers to cut child poverty in half and increase well-being for all children and families: Break Cycles of Poverty and Grow Family Prosperity by Making Permanent Investments in Families
On Thursday, December 19, 2019, Congress passed legislation that signals a strong, bipartisan commitment to improve American retirement security, the Setting Every Community Up for Retirement Enhancement (SECURE) Act.
October 23, 2019The Aspen Institute Financial Security Program lays out ways industry leaders and policymakers can improve Americans’ retirement outlook, including expanded access to plans and help with emergency savings.
The Aspen Institute Financial Security Program convened its third annual Leadership Forum on Retirement Savings in April. More than 70 experts and industry leaders gathered in Warrenton, Va., to share, evaluate, and refine solutions to the nation’s retirement crisis.
