House Passes Bill to Address CO Retirement Crisis

(April 17) – The House gave voice-vote approval today to a bill to seek solutions for the looming statewide problem of inadequate retirement planning.

“Almost half of Coloradans have no employer-sponsored or personal retirement plan,” said Rep. Brittany Pettersen, D-Lakewood. “Unless we start doing things differently, we are on course to see large numbers of hard-working Coloradans dropping out of the middle class and retiring into poverty, leading to a huge increase in demand for state services.”

HB15-1235, sponsored by Reps. Pettersen and John Buckner, D-Aurora would create the Colorado retirement security task force to study and make recommendations on the factors that affect Coloradans’ ability to save for a financially secure retirement. One of the options for consideration would be the feasibility of creating a Colorado retirement savings plan for private-sector employees.

“Far too many Coloradans have been unable to plan for their retirement,” Rep. Buckner said. “We don’t pretend to have the solutions, but the task force will assemble the expertise to seek solutions
that will protect our middle class and help Coloradans of all ages along the path toward a secure retirement.”

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