AARP New York finale celebrated today New York State Adoption of a bill to strengthen the state’s “Secure Choice Savings Program”.

The program urges the governor to pass the law quickly Andrew Cuomo to ensure that the most robust program to enable private sector workers to start saving is up and running as soon as possible.

The statement (A3213A-Rodriguez /S5395A-Savino) passed the State Senate in a bipartisan vote (44-19), like last month in the State Assembly (125-22).

“This bill could help millions of private sector employees in New York State save for their retirement and become financially secure and independent,” said Beth Finkel, New York State director of AARP. “AARP New York urges Governor Cuomo to sign this bill as soon as possible to ensure this stronger Secure Choice Savings Program is up and running and empowers more New Yorkers to save.”

Bill sponsors Senator Diane Savino and MP Robert Rodriguez have been campaigning for Secure Choice since 2018 when the program was passed as part of the state budget and the two won the AARP Super Saver Award for their efforts.

“AARP commends Senator Savino and Member of the Rodriguez Congregation for their long and continued leadership at Secure Choice, including continuing this year in advocating the strongest retirement program,” said Finkel. “We thank Senate Majority Leader Andrea Stewart-Cousins, Congregation Speaker Carl Heastie, and their homes for passing this bill.”

The Secure Choice program, which is yet to be implemented, will offer many of the more than 3.5 million 18- to 64-year-old private sector employees who work for companies that do not already offer a retirement option.

The Secure Choice program, which is yet to be implemented, will offer many of the more than 3.5 million 18- to 64-year-old private sector employees who work for companies that do not already offer a retirement option.

This is more than the half New York’s private sector workers, with black workers disproportionately lacking access to an opportunity to save in the workplace – such as AARP New York and over a dozen other organizations representing black people, consumers, business owners, and religious leaders noticed recently.

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The bill amends the Secure Choice program to maximize retirement savings for hardworking New Yorkers by requiring that companies with 10 or more employees, who now don’t offer their employees an opportunity to save for retirement, put their employees at Secure Choice IRA sign up unless the employee waives.

“That would increase participation enormously,” said Finkel, member of the state commission that will set up the program; While people are 15 times more likely to save if they can through their job, they are 20 times more likely do if they are automatically registered.

More than 2.5 million New Yorkers work for companies with 10 or more employees that don’t offer savings.

More than 2.5 million New Yorkers work for companies with 10 or more employees that don’t offer savings.

Many small businesses are realizing that a company pension option can attract and retain employees – but many cannot afford it. Secure Choice will solve this problem.

And when AARP New York surveyed the owners of companies with fewer than 100 employees, more than two thirds supported the idea of ​​Secure Choice.

“Since Mayor Bill de Blasio one execution Having recently put this program into effect in New York City, we urge Governor Cuomo to swiftly sign this bill and begin bringing financially secure and independent retirement within reach for millions more New Yorkers across the state.

AARP is the largest non-profit, non-partisan organization in the country, which has set itself the goal of giving people over 50 the opportunity to decide for themselves how they live in old age.

With a nationwide presence and nearly 38 million members, AARP empowers communities and advocates what is most important to families: health security, financial stability and personal development.

AARP also produces the country’s highest-circulation publications: AARP The Magazine and AARP Bulletin.

To learn more, visit www.aarp.org, www.aarp.org/espanol