"Make it Monday" forum - Alaska Work and Save- Strengthening Local Businesses and its Employees for Years to Come

In this presentation, Marge Stoneking, along with business owners Dan Newman and John Weddleton, will speak about Alaska Work and Save. AARP Alaska asks for support of Alaska Work and Save SB 120 as it would provide a retirement savings option for employees at businesses of every size. It is designed to address the retirement savings gap using tools, such as payroll deduction, that are proven to work. Recently, the number of enrolled savers in Work and Save programs has reached over a million across 20 states, and we want Alaska to join their ranks.

The state serves the role of overseeing and registering businesses, while the private sector manages and runs the investments. These programs are easy for employers and employees to use, and there are no ongoing costs or risks to employers or the state. Importantly, Work and Save includes both automatic enrollment and portability, leading to dramatic increases in participation that last over time and as workers change jobs.

The Work and Save program would allow business owners to support their employees, increasing retention. It would also support business growth, which would fuel the Anchorage economy.
 

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