Media Advisory: Senate to Hear Testimony on Retirement Insecurity in Illinois

On Tuesday, May 14th, the Illinois Senate Committee on Licensed Activities and Pensions will hear testimony on growing retirement insecurity in Illinois and a legislative proposal to address it. SB2400, sponsored by Senator Daniel Biss, would create an Automatic IRA program in our state. This is a simple, cost-effective way to increase retirement security for Illinois workers by giving them access to a savings tool that will help them build financially secure retirements.

WHAT: Subject Matter Hearing on SB2400, the” Automatic IRA” Program Act to address retirement insecurity in Illinois

WHO: Senate Committee on Licensed Activities and Pensions; Testimony will be heard by Denise Gaines with SEIU Healthcare Illinois Indiana, and Spencer Cowen with Woodstock Institute.

WHEN: Tuesday, May 14th, 2013 at 3:00pm

WHERE: Room 400, Capitol Building, Springfield, IL

All workers should have the opportunity to retire with dignity. Unfortunately, over half of private-sector workers in Illinois do not have access to an employment-based retirement savings account. Without access to this important savings tool more and more people are falling into poverty during their retirement years as they rely too heavily on Social Security.

To learn more about the state of retirement insecurity in Illinois read Coming Up Short: The Scope of Retirement Insecurity Among Illinois Workers – report from the Woodstock Institute, a lead partner of the Illinois Asset Building Group and Heartland Alliance.

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The Illinois Asset Building Group (IABG) is a statewide committed to increasing access to the tools that people need to build financially secure futures for themselves and their children. Our work across issue areas includes examining barriers and solutions to the persistent racial wealth gap. IABG is lead by Heartland Alliance for Human Needs and Human Rights. Our partners include community leaders, service providers, researchers, advocates, and financial institutions.  Follow us on Twitter   or like us on Facebook.

Heartland Alliance −− the leading anti-poverty organization in the Midwest −− believes that all of us deserve the opportunity to improve our lives. Each year, we help ensure this opportunity for more than one million people around the world who are homeless, living in poverty, or seeking safety. Our policy efforts strengthen communities; our comprehensive services empower those we serve to rebuild and transform their lives. For more information, visit: www.heartlandalliance.org or follow us on Twitter at https://twitter.com/heartlandhelpsor like us on Facebook at https://www.facebook.com/heartlandalliance.

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