Retirement Security Federalism In Action

The decades-long shift away
from pensions and toward individual savings accounts as a means to ensure
widespread retirement security remains incomplete and instead has become a key
source of financial insecurity for millions of American families. Although insufficient
retirement savings is widely acknowledged as a problem that needs to be solved,
a federal policy solution has not materialized. In the absence of congressional
action, states are beginning to step into the breach. By crafting their own set
of policies to support long-term savings objectives, states are launching a new
era of retirement security federalism. That has the potential to significantly
transform the country’s savings policy landscape.

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