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EffectiveNY Applauds Mayor de Blasio’s New City-Run Retirement Savings Plan for Private Workers

Think Tank that Led Fight for Retirement Savings Public Option Calls on New York’s Congressional Delegation to Support the City’s Program in Washington

Today Mayor de Blasio took an important step forward in tackling New York’s retirement security crisis and putting all of our workers on the path to being able to retire with dignity. By creating a city-run public option for the nearly 60% of our private sector workers who do not have access to a retirement savings vehicle through their employer, Mayor de Blasio has demonstrated the leadership we need to overcome one of the most serious income inequality challenges New York and the United States face.

Four years ago, under our founder Bill Samuels’ leadership, EffectiveNY embarked upon an uphill battle to convince New York State and New York City to create a government-run retirement savings program such as the one Mayor de Blasio announced this evening. Over the past year, we have co-led a coalition of over 20 organizations, representing a diverse array of communities, labor and religious groups, united by the aim of achieving the goal of bringing retirement security to all New Yorkers. Today, we rejoice in seeing our activism turned into action by Mayor de Blasio.

“By creating the first-ever city-run retirement savings program, Mayor de Blasio has once again shown his courage to adapt innovative solutions to our most pressing problems and demonstrated his heartfelt commitment to lessening income inequality in New York City,” said Bill Samuels. “It is immensely gratifying for me to see EffectiveNY and our coalition’s years of advocacy yield real results for millions of New Yorkers.”

Despite the organization’s success, Samuels declared EffectiveNY’s work far from done and called on New York’s congressional delegation to lobby the U.S. Department of Labor to approve new regulations that would authorize the city’s plan and enable New York State to create the strongest state-run retirement savings program in the nation.

Samuels also said that EffectiveNY would now focus on supporting the city in its efforts to persuade every New Yorker currently without a retirement plan to embrace the important opportunity Mayor de Blasio’s new program affords them.

 

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