Washington State Senators Tackle Retirement Insecurity In Work Session: "Retirement Shouldn’t Be A Gamble"

On Tuesday, Washington Senate lawmakers held a work session to launch a discussion on retirement insecurity: Sen. Steve Conway, (South Tacoma); Sen. Maralyn Chase (Seattle);Sen. Karen Fraser (Thurston County);Sen. Bob Hasegawa (Seattle); Sen. Karen Keiser (Kent); Sen. Jeanne Kohl-Welles (Seattle); and Rep. Chris Reykdal (Tumwater).

Professor Teresa Ghilarducci, Chair of the Economics Department and Director of the Schwartz Center For Economic Policy Analysis

Front Row: Rep. Chris Reykdal; Second Row: Sen. Steve Conway, Sen. Bob Hasegawa, Director of WA State Dept. of Retirement Systems Marcie Frost; Back Row: Sen. Maralyn Chase, Sen. Karen Fraser

Participants from business, labor, finance and research sectors also presented information on a number of key issues, including defined benefit pension plans, small business options, and worker retirement readiness. 

“We have a retirement income crisis that threatens Washingtonians and Americans, we are less prepared to retire than in past decades.” said Sen. Steve Conway. “Retirement shouldn’t be a gamble. Employees need to be able to count on a steady and stable retirement income. That’s why we held this work session, to understand these problems and seek innovative ideas. We need to be prepared because the boomers are starting to retire.”

Held as part of the National Week of Action for Real Prosperity Across America, the work session addressed a key priority for legislators working on economic security issues: ensuring that all Americans can retire in dignity after a lifetime of work. The work session was aired live; a recording may be viewed online here while the presentation materials are available here.