Retirement bill important
Thank you to the Sun-Gazette for recognizing the importance of Keystone Saves (HB 2156), which would offer cost-free retirement savings options for businesses to offer employees who currently don’t have access to individual retirement account plans.
Manufacturers across northeast Pennsylvania are grappling with supply chain issues, inflation, staffing and other challenges. This is not unique to the region and not unique to Pennsylvania. However, there is a great opportunity to advance this legislation, which has received widespread bipartisan support.
Savings shortfalls are a problem across Pennsylvania, and they burden Pennsylvania taxpayers by costing an estimated $14.3 billion over 15 years for increases in social services and other post-retirement programs. During these trying times of high inflation and staffing shortages, this legislation is a chance to advance a thoughtful initiative that will benefit businesses and workers.
Not passing this legislation during this budget season would be a disservice to our manufacturing base and its employees. The Northeast PA Manufacturers and Employers Association joins the News Item, State Treasurer Stacy Garrity and the more than 50 bipartisan co-sponsors in support of the Keystone Saves program. We implore lawmakers to pass the legislation this year. Pennsylvania can’t wait anymore.
DARLENE J. ROBBINS
President of the Northeast PA Manufacturers and Employers Association
Submitted by Virtual Newsroom