[Congressional Record (Bound Edition), Volume 163 (2017), Part 4]
[Senate]
[Page 5688]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     H.J. RES. 66 AND H.J. RES. 67

  Mr. CASEY. Mr. President, the easiest way for workers to save the 
additional money they need for retirement is through work-based 
retirement plans. When workers have access to work-based plans, the 
vast majority of them choose to participate, but many Americans do not 
work for an employer that offers such a plan. According to AARP, 55 
million private-sector workers ages 18 to 64 had no ability to save for 
retirement through an employer-sponsored plan in 2013. Of those 
workers, 2.2 million lived in Pennsylvania
  In response, numerous States and multiple cities have considered 
programs that would give residents better access to retirement savings 
accounts, and multiple States have already passed laws putting such 
programs in place: Our Republican colleagues are trying to nullify 
efforts by these States and cities, rolling back their efforts to give 
their citizens better access to retirement savings accounts.
  It is both surprising and disappointing to see this opposition 
mounted against a measure we should all be able to support--enhancing 
access to retirement savings. In undermining these programs, 
Republicans will be denying access to safe, low-cost retirement savings 
vehicles.
  A recent study looking at just the city of Philadelphia found that 
roughly half of Philadelphia workers between the ages of 25 and 64 did 
not have access to an employer-sponsored retirement plan at work. 
Further, 20 percent of Philadelphians over the age of 65 are poor, 
compared to 9 percent nationwide; 30 percent of Philadelphians over the 
age of 65 have incomes between 100 and 200 percent of poverty.
  One of the most important elements of economic security for the 
middle class is retirement security. Millions of Americans ask, ``Will 
I have enough money saved to retire and retire comfortably?'' The 
answer to that question for too many Pennsylvanians is no. Looking at 
these facts, Philadelphia took action and began exploring ways to 
expand access to saving for our workers. Through these resolutions, 
Republicans will severely undermine the efforts of cities and States to 
expand access to retirement savings vehicles to the citizens by 
facilitating IRA retirement savings through private employers.
  The programs States and cities are pursuing are simple, low-cost, and 
voluntary. Most would simply require that employers that do not 
currently offer a plan facilitate voluntary employee contributions to 
an Individual Retirement Account. Our State and local governments are 
our idea incubators. Many of our States and cities, including 
Philadelphia, want to make it easier for workers to save for 
retirement. In repealing this guidance, Republicans are hindering that 
effort.

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