Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate committee rejects Peach State Saves automatic retirement plan
Summary
The Georgia Senate Retirement Committee heard hours of testimony on SB226, the Peach State Saves Act, including witnesses from Pew, ERS and AARP, and after debate the committee voted 5-4 to defeat the bill in committee.
The Georgia Senate Retirement Committee on an informational hearing considered Senate Bill 226, the Peach State Saves Act, a proposal to require employers with five or more employees to either facilitate enrollment in a state-run automatic IRA program or maintain a private retirement plan. After testimony from national and state witnesses and extended questioning from committee members, the committee voted 5-4 against advancing the bill.
Proponents told the committee the bill would expand retirement access to an estimated 2 million private-sector Georgia workers who lack workplace plans. Kim Olson, senior officer on the retirement savings project at Pew Charitable Trusts, told the committee, "Pew supports Senate Bill 226" and said similar programs in 17 states had helped close coverage gaps and spurred some employers to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
