FOR
IMMEDIATE RELEASE
DATE:
The
Representative
Sam Johnson on the proposal to create a new simple, universally available
savings
vehicle, which will significantly increase opportunities for Americans to save
for
their
retirement years. The Retirement
Savings Accounts (RSAs) proposed by
Representative
Johnson will provide all Americans with a savings vehicle that will make
it
easier for them to save for retirement. Members
of the
that
the Representative Johnson recognizes the importance of simplification. Savings
Coalition
members know from experience that fewer rules and restrictions often result in
higher
participation rates across all socio-economic levels.
RSAs address a key component of retirement --
personal savings. Personal
savings
is the third leg of the retirement stool in addition to employer-provided plans
and
Social
Security. By eliminating income
restrictions, the RSA will be a great tool for
Americans
to save for retirement, especially baby boomers who are within a decade
of
beginning to retire.
“This legislation provides incentives for Americans
to save,” said
Executive
Director of the
accounts
universally available, the complicated rules of eligibility go away and make it
easier
for American workers to save.”
-2-
The
representing
tens of millions of American savers. Its
membership includes
representatives
from a wide variety of interests including consumer, health care,
education
and business groups, engineers, home-builders, real estate, trust companies,
banks,
insurance and securities firms and financial services companies. The Savings
Coalition
of
legislation.
####
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