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Most American workers have some type of retirement plan through their employer, but many do not. Most of the employers that don’t offer the rare defined pension these days or a 401K plan are small businesses. Usually, the cost of a pension plan is what keeps them from making it available to their employees.
The Pennsylvania State Treasury has developed a program for workers who do not have access to an employer-sponsored retirement plan.
It’s called Keystone Saves and it would allow employees to contribute to their retirement at no cost to the employer.
State Treasurer Stacy Garrity appears on Friday Talk smart to Explain Keystone Saves with John Scott, Director of the Retirement Savings Project – The Pew Charitable Trusts