Testimony of Nari Rhee before the U.S. DOL ERISA Advisory Council Hearing. The US private sector employer-sponsored retirement system leaves out many workers, disproportionately impacting Blacks and Latinos. While some states have forged their own path to try to close this coverage gap, these efforts are limited in scope by ERISA preemption. Federal policy action is necessary so that all workers are covered by a plan that effectively prepares them for a financially secure retirement.
California Workers' Rights: A Manual of Job Rights, Protections and Remedies
Testimony of Nari Rhee before the Health, Employment, Labor and Pensions Subcommittee of the U.S. House Committee on Education and Labor on how the US retirement system can be strengthened and made more inclusive, so that all workers – regardless of race, gender, or class – can have economic security in retirement.
The persistent concentration of financial assets among the wealthiest families, combined with anemic retirement savings among most households, poses a significant economic threat to the retirement security of many working Americans.
A new research brief finds that financial asset inequality among Americans continues to increase, and the inequality is consistent across generations. This wealth inequality, combined with dangerously low retirement savings among most households, poses a significant threat to retirement for working Americans.
In this data brief, we highlight the lack of retirement assets among private sector employees and working-age families in California based on the Census Bureau’s Current Population Survey and 2014 Survey on Income and Program Participation. It turns out that California private sector workers are not merely behind on saving for retirement; half do not own retirement assets and most are currently not saving for retirement at all.
Over half of California private sector employees age 25-64 aren’t enrolled in a retirement savings plan or pension, according to a new data brief by Nari Rhee, director of the Retirement Security Program at UC Berkeley Labor Center. The brief provides a first-ever look at retirement assets—and the lack thereof—among private sector employees and working-age families in the state.
In order to have meaningful retirement security, America’s low-wage workers don’t just need an effective way to save—they also need a raise. The State of California is leading the way by providing both.
California’s $15 Minimum Wage and Secure Choice Retirement Savings Program Can Boost Young Low-Income Workers’ Retirement Incomes by 50%
This study examines the separate and combined impacts of the $15 minimum wage policy and Secure Choice on the retirement income of California workers in the bottom half of the income distribution.
Proposed Congressional Repeal of Federal Regulations Supporting State Auto-IRAs Threatens Retirement Security of 13 Million Workers in Five States
Republicans in Congress are trying to repeal Department of Labor (DOL) regulations that provide a safe harbor for states and large cities to sponsor retirement savings programs for private sector workers without running afoul of federal pension laws.
California enacted SB 1234 in 2016 authorizing implementation of the California Secure Choice Retirement Savings Program (Secure Choice) to help millions of workers save for retirement.