Lifting up Small Businesses for National Be Heard Day
nat rosasco • March 6, 2020
Small businesses are the second most trusted institution in the United States, yet all too often policy decisions serve the interests of large corporations. That’s why National Be Heard Day was created and is held annually on March 7, providing an opportunity to amplify small business voices on the policy issues that matter most to them.
One issue we hear about often is that many small business owners and their employees are worried about retirement. In fact, 1 in 3 small business owners have no retirement savings plan. While there are retirement options out there for entrepreneurs and self-employed individuals, wading through the paperwork, investment options and fees alone can be daunting.
Lawmakers at the state and federal level have proposed a novel solution to fill this gap for people without access to retirement savings through an employer. Auto-IRA programs, often also called Work & Save or Secure Choice, are public-private partnerships between the state and private sector to allow employees to save for retirement automatically through simple payroll deductions.
While federal legislation on auto-IRA programs has stalled, states are taking the lead on pushing these projects forward. Indeed, states like Oregon and Illinois have programs in place, and many more like New Mexico, Wisconsin and Pennsylvania are considering their own plans. States with programs are helping workers to easily save for their financial future, and leveling the playing field for small businesses unable to offer their own programs.
If you are a small business owner or solo-entrepreneur, use this year’s Be Heard Day to raise your voice on why you need novel retirement options from your state lawmakers to help you save for your future! Write a letter to the editor or op-ed to your local paper, call your local representative or even show up for a public hearing at your state legislature. Speak out and tell policy leaders that small business concerns need to be met, especially on retirement.
Learn more about Work & Save programs from AARP.
Small businesses are the second most trusted institution in the United States, yet all too often policy decisions serve the interests of large corporations. That’s why National Be Heard Day was created and is held annually on March 7, providing an opportunity to amplify small business voices on the policy issues that matter most to them.
One issue we hear about often is that many small business owners and their employees are worried about retirement. In fact, 1 in 3 small business owners have no retirement savings plan. While there are retirement options out there for entrepreneurs and self-employed individuals, wading through the paperwork, investment options and fees alone can be daunting.
Lawmakers at the state and federal level have proposed a novel solution to fill this gap for people without access to retirement savings through an employer. Auto-IRA programs, often also called Work & Save or Secure Choice, are public-private partnerships between the state and private sector to allow employees to save for retirement automatically through simple payroll deductions.
While federal legislation on auto-IRA programs has stalled, states are taking the lead on pushing these projects forward. Indeed, states like Oregon and Illinois have programs in place, and many more like New Mexico, Wisconsin and Pennsylvania are considering their own plans. States with programs are helping workers to easily save for their financial future, and leveling the playing field for small businesses unable to offer their own programs.
If you are a small business owner or solo-entrepreneur, use this year’s Be Heard Day to raise your voice on why you need novel retirement options from your state lawmakers to help you save for your future! Write a letter to the editor or op-ed to your local paper, call your local representative or even show up for a public hearing at your state legislature. Speak out and tell policy leaders that small business concerns need to be met, especially on retirement.
Learn more about Work & Save programs from AARP.
