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Work and Save 101

Today, a secure retirement is out of reach for millions of Americans, especially those who work for small businesses.

  • Fifty-seven million Americans have no access to a retirement savings plan through their employers—that’s over 50 percent of the 18-to-64-year-old population.
  • When employers give workers the option of payroll deduction for retirement savings, their participation rate is a whopping 1,300 percent higher than that of those without the option, research  shows.
  • The average monthly Social Security benefit is only about $1,200 per month. While Social Security is a critical piece of the puzzle, it is not enough to ensure people can live independently as they get older.

How can we make it easier for Americans to save so they can live the lives they want in retirement? The answer is simple: a Work and Save plan. 

A Commonsense Solution

A Work and Save plan makes it easier for businesses to create a private retirement savings account for employees, helping them take charge of their financial futures and live independently as they age.

Why Work and Save?

  • Promote Financial Freedom: Social Security alone isn’t enough to depend on. Work and Save accounts make it easier for workers to grow the additional savings they will need to live a secure and independent future.
  • Give Americans a Choice: Accounts are voluntary. It’s up to employees to decide if they want to participate.
  • Give Employees Control: Accounts are portable. When employees switch jobs, they can take their Work and Save accounts with them.
  • Save Taxpayer Dollars: Giving employees a simple way to save for retirement will mean fewer Americans will need to rely on government safety net services, which will save taxpayer dollars.
  • No Risk: A Work and Save plan would be easy for employers to set up, and there would be no ongoing costs or risk to the employers or the state.

Learn more about AARP efforts and what is happening in your state at

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