Oregon Democratic Senator Jeff Merkley stopped by the Falling Sky Delicatessen in Eugene, Friday, to discuss retirement savings plans for small businesses.
Earlier this week, Merkley introduced the American Savings Act which emphasizes a universal savings plan that can be transferred between jobs. Merkley says most employees don’t work for the same company or firm for decades like previous generations.
Merkley: “So, with that change, what we instead have is workers who without some type of more suitable retirement strategy are going to be facing retirement simply with social security.”
Merkley says about 68 million Americans don’t have access to a retirement savings plan through their employer. The proposed bill applies to both part time and full time employees and can be utilized in multiple jobs at once.
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