September 20, 2019 - Philadelphia, PA
Pennsylvania Treasurer Joe Torsella, Senator Art Haywood and Representative Mike Driscoll today met with Nancy Morozin, owner of the Dining Car in Philadelphia, to discuss the proposed Keystone Saves auto-IRA program.More than two million working Pennsylvanians currently lack access to workplace-sponsored retirement plans. The proposed Keystone Saves legislation would enact a state-administered auto-IRA program, giving employers the ability to offer retirement savings options for their workers-something that can otherwise seem impossible to do because of cost and complexity of plans. The state-administered fund would be a fiduciary trust fund for employees, not funds that can that could be accessed by state government, and would be managed by a private sector vendor chosen through a bid process, much like the PA 529 Investment Plan.
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