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🗓️ 11 November 2023
⏱️ 51 minutes
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Congress is currently considering the “Retirement Savings for Americans Act,” an ambitious bill that seeks to create a national retirement system.
Back in April 2021, two economists told us about their bipartisan plan to help millions of low-income Americans save for retirement.
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0:00.0 | Hi everyone it's Meghna here with a podcast special for you. |
0:03.5 | It's no secret that many Americans struggle to save enough for retirement. |
0:08.3 | It's one of the greatest sources of uncertainty for people as they age. |
0:12.3 | That's why some little noted activity in Congress |
0:16.0 | has grabbed our attention. Right now Congress is considering what's called |
0:20.6 | the Retirement Savings for Americans Act. It's a very ambitious bill |
0:25.4 | that seeks to create a national retirement system for all Americans and it's |
0:30.0 | modeled on the program that the federal government offers to all of its own workers. |
0:36.1 | The plan could help some 40 million Americans who have no access to an employer-sponsored |
0:41.7 | retirement plan. |
0:43.2 | And it's got bipartisan support. |
0:45.4 | The bill is sponsored by Democratic Senator John Hickinloper, Republican Senator Tom Tillis, House |
0:50.8 | Republican Lloyd Smucker, and House Democrat Terry Sewell. |
0:54.0 | Now, to be perfectly honest, the bill is actually being reintroduced and in previous tries it went nowhere in Congress. |
1:02.0 | However, a couple of years ago... it went nowhere in Congress. |
1:03.0 | However, a couple of years ago, Onpoint was one of the first shows that noticed |
1:08.0 | that two retirement and economics experts were developing the idea for a new kind of national retirement plan. |
1:15.6 | So we brought them on the show to explain their idea even before the ink had dried on the |
1:20.9 | first version of the bill. So in today's podcast special, we dug |
1:25.9 | through the archives and dust it off this April 2021 episode called |
1:31.2 | Millions of Americans Can't save for retirement. |
1:34.0 | These economists have a plan to change that. |
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