“Secure Choice” will help saving for retirement

Published in RINewsToday on February 20, 2023

Most Rhode Islanders save for retirement through an employer-based plan such as a pension or 401(k). But 172,000 Rhode Island workers (roughly 40 percent of the state’s workforce) do not have access to this crucial savings tool. At a Feb. 14, 2023 press conference held at the State Library, Sen. Meghan E. Kallman (D-Pawtucket, Providence) and Rep. Evan Shanley (D-Warwick, East Greenwich) were joined by General Treasurer James A. Diossa, and advocates calling for a policy fix by enacting a program called “Secure Choice.” These advocates were invited to publicly give their support: Catherine Taylor, State Director of AARP Rhode Island, the Rhode Island Black Business Association, Progreso Latino and the Hispanic Chamber of Commerce.

During early February, S 0089 and H 5417 were introduced by Sen. Meghan Kallman (D-Pawtucket, Providence) and Rep. Shanley (D-Warwick, East Greenwich) to allow employees to take their savings with them when they change jobs.  The Senate and House proposals were referred to the Senate Finance and House Committees in their respective chambers. 

At press time, Kallman withdrew S 0089 to redraft it to match the House version.  It will be reintroduced after Feb. 28 when the Rhode Island lawmakers come back from recess. At this time, the General Assembly’s House and Senate GOP caucus have no position on these legislative proposals.  

“It’s in everyone’s interest to help workers save for retirement,” said Kallman, the press conference announcing the introduction of the Secure Choice legislative proposals. “The evidence is really clear: giving workers access to pre-tax payroll deductions is the best way to encourage retirement savings. And having those savings is a big part of being able to live a comfortable and healthy retirement, which is what we want for everyone in our community,” she said.

“When I talk to small businesses in my community, they really care about their staff and want their workers to be able to save for retirement,” said Shanley, primary sponsor of the House companion measure. “But small business owners can’t be experts in everything and often don’t know where to start with offering retirement savings. This bill gives them a way to support their workers and gives workers a chance to save,” he says.

“Too many employees across the state are working day and night without the assurance of a solid financial future,” said Treasurer Diossa. “By providing workers with an optional retirement plan, the Secure Choice Act is a prime example of how government can improve the lives of workers. We must fulfill the fundamental promise that a lifetime of hard work will be met with a retirement of dignity and security.”

 Taking a Look at the Nuts and Bolts

“Most Rhode Island workers hope to retire someday,” said Catherine Taylor, State Director of AARP RI in supporting the passage of the Secure Choice legislative proposals that tie nicely into AARP’s mission to “empower people to choose how we live as we age.”  

According to Taylor, Secure Choice provides a “simple and easy way to save to the over 172,000 private sector employees in Rhode Island who currently do not have access to a way to save through their work.” That is about 40 percent of Rhode Island’s private sector workers, she says, noting that this percentage includes workers at all levels of earnings, education, and backgrounds.

“All of them would benefit from the ability to use payroll deduction to save for retirement. People are 15 times more likely to save if it can be done out of their regular paycheck. 20 times more likely if this can be done automatically,” she added, stressing that this program would be easy for employees of Rhode Island’s small businesses to participate in. It’s also free for employers.

At last Tuesday’s press conference, Taylor noted that AARP’s mission is to “empower people to choose how we live as we age.”  

“Saving for retirement is critical because those savings mean financial resilience and empowerment for older Rhode Islanders. Many older Rhode Islanders who did not save for retirement are living solely off Social Security and have few options as to where and how they age. For older Rhode Islanders to thrive it is important to have access to a simple and easy way to save for retirement during our working years,” says Taylor.

Taylor states that passage of Secure Choice will give all workers the chance to begin saving for their retirement, giving them a way to retire with more security. 

By the numbers…

In May 2022 AARP Rhode Island surveyed 502 small Rhode Island businesses and the results showed that 72 percent of these small business owners were supportive of a privately managed, ready-to-go retirement savings option that would help them offer employees a way to save for retirement. The study, released on July 2022, found that 81 percent –  https://www.aarp.org/research/topics/economics/info-2022/rhode-island-retirement-savings-small-business-owners.html – of the respondents agreed that the lawmakers should pass a bill to make it easier for small business owners to access a retirement savings option for their employees and themselves.

“Secure Choice is all about choice and control. It is voluntary for employees: how much you save, if at all, is entirely up to you, as are the investments you choose. Employers need only pass on information from the program and add a payroll deduction option, says AARP’s Taylor, stressing that they can open an alternative plan of their choosing at any time.

Taylor notes that Sixteen states have enacted similar programs. Eight of those programs are open for business and have over 634,000 funded accounts and $662 million in assets under management as of December. Over 30 states recently acted to study program options or consider legislation., she said.

Legislative proposals to create a Secure Choice program were introduced in 2019, 2020, 2021 and 2022.  During this legislative session, now is the time for lawmakers to push the legislative proposal to the goal line for passage. 

Taylor sees a positive impact on the state’s budget if the Secure Choice is passed and signed into law by Rhode Island Governor Dan McKee.  “When more people save for retirement, it decreases reliance on public assistance, having an enormously positive effect on the state’s balance sheet,” she said stressing that it’s sound fiscal policy for state. AARP Rhode Island will be releasing a fiscal impact analysis on Feb. 28, that is being prepared by The Pew Charitable Trusts.  Stay tuned.  

A broad coalition of aging advocacy groups from across the state support Secure Choice, including AARP Rhode Island, the Latino Policy Institute, SEIU, Progreso Latino, Working Families Party, Hispanic Chamber of Commerce Economic Policy Institute, and the Rhode Island Black Business Association.

To watch the Secure Choice Press Conference, held on Feb. 14, 2023, go to

To read Aug. 2022 Fact Sheet: Rhode Island detailing the benefits of enacting enabling Rhode Islanders to save for their retirement, go to

To read AARP Director Catherine Taylor’s Op Ed, “We Need Secure Choice”, go to  

https://states.aarp.org/rhode-island/we-need-risavers

RI Gubernatorial Forum to ask, “what’s your Senior Agenda”

Published in RINewsToday on August 1, 2022

The Senior Agenda Coalition of RI (SACRI) has joined 17 organizations to bring you Rhode Island’s 2022 Gubernatorial Forum where candidates will talk about senior issues. The event is scheduled for Wednesday, August 3, 2022, at 10:00 a.m. at the East Providence High School’s new 900-seat capacity auditorium. Seating is limited to 450 people, leaving space for social distancing. Doors will open at 9:30 a.m. At press time, 350 seniors and aging advocates have registered to attend in person or virtually.    

“Senior issues must be viewed as a public policy priority because Rhode Island’s older population is growing dramatically,” says Bernard J. Beaudreau, SACRI’s Exec. Director, and one of the event’s organizers. According to Beaudreau, the U.S. Census Bureau estimates that the state’s total population of 65 years and older has grown by 20% from 152,183 in 2010 to 182,486 in 2020, adding 30,303 people in this age group. Rhode Island’s statewide planning projections also indicate that people sixty-five and older will grow to over 247,000 by 2030, an increase of 65,000 seniors over the 2020 census.

Gubernatorial candidates to delineate positions on key Senior Issues

“During the 90-minute forum, the gubernatorial candidates will share their positions on seven questions, hammered out by event cosponsors, as to how they would address a variety of policy issues impacting older Rhode Islanders,” says Beaudreau.  “Attendees will learn how candidates would rebuild and sustain a viable workforce for nursing homes and homecare providers. They will also be asked about their plans for Medicaid rebalancing and expansion to improve home and community-based care opportunities while ensuring the financial viability of nursing homes,” he says. 

Beaudreau says the forum also gives the gubernatorial candidates an opportunity to detail their strategies on how resources can be increased to significantly support healthy aging in the community. They will be asked by the moderator what type of assistance will be given to low-income seniors, and will they support a yearly cost-of-living adjustment to the state SSI payment and increase eligibility for the Medicare Savings Programs for seniors and people with disabilities to at least 185% FPL.

The attendees will also learn how the candidates, if elected governor, will ensure that an adequate amount of the $250 million in funding for affordable housing is allocated for seniors and how they will work to ensure equal access to high quality healthcare and information about available health care resources.

Finally, the gubernatorial candidates will be asked to make a pledge to address the needs of Rhode Island’s older population and provide the leadership and resources necessary to create and implement a Rhode Island Strategic Plan on Aging.

Recognizing the political clout of Seniors

“SACRI’s upcoming Gubernatorial Candidates’ Forum is important as older adults historically have high turnout in elections and the Forum provides an opportunity to hear the candidates’ views on issues important to seniors,” says Maureen Maigret, Chair of the Long-Term Care Coordinating Council’s Aging in Community Subcommittee. “The Forum should cause candidates to take a serious look at the state’s demographics, to note how the older population is growing, and to reflect on how government can best support older adults’ desire to remain healthy and living in the community and provide quality facility care when needed,” says Maigret.

“The Forum allows us to set forth policy priorities and hold whoever is elected accountable for addressing them. An example of this is when former Governor Raimondo was elected. She had been presented with priorities for restoring budget cuts to senior services such as Meals on Wheels and some of the cuts were restored in her budgets,” Maigret noted.

SACRI’s Beaudreau says that the senior vote will influence the outcome of the upcoming primary and mid-term. “Rhode Island seniors 60 years of age and older represent 34% of all registered voters and accounted for 42% of the vote in the 2020 general election. Rhode Island seniors have higher voter participation rates than the rest of the population,” says Beaudreau, this being 77% compared to 57% for voters under 60 years of age. “We have a powerful voice to be exercised to impact public policy,” he says.

Political pundit Wendy J. Schiller sees seniors as a crucial voting bloc in American politics. “On average, 72% of voters over the age of 65 turn out to vote in presidential elections, as compared to about 48.6% of voters under the age of 30. Seniors are consistent and typically well-informed voters on issues concerning Social Security and Medicare,” says Schiller, Royce Family Professor of Teaching Excellence in Political Science and Director of the Taubman Center on American Politics and Policy, Brown University. 

According to Schiller, in the past 3 elections, “seniors have split about 55-56% for the Republicans, and 45-46% for Democrats. Seniors have been viewed as more conservative (Sun City AZ, the Villages FL) but the data do not really bear that out as you can see. There is a tilt, but not a full lean toward the GOP; this midterm season might be different though. If the 22 midterm elections were held tomorrow, you might expect to see even a bigger swing toward GOP candidates than usual because of inflation alone. Inflation is just one area where there is a gap in issue concerns between older and younger voters. Older voters worry a great deal about inflation eating into their savings and pensions that are not adjusted for inflation while younger voters may be as concerned with climate change and abortion rights as much or even more than they are worried about inflation,” she says.  

Schiller says that seniors are like all other voters in that they are highly influenced by their political party affiliation, even in cases where the party proposes policies that run against their interests. “The GOP has proposed cutting Medicare ever since it was created, most recently under President Trump, but they are not careful to say that such cuts would not affect current recipients or even people aged 55 or over and the majority of seniors voted for Donald Trump in 2020. Democrats ran into some trouble with seniors when Bernie Sanders and others proposed Medicare for All because seniors thought it would dilute their own services through Medicare, and/or raise their premiums,” adds Schiller.      

Adds well-known Rhode Island Political Strategist, Rob Horowitz, “As a group, seniors vote more regularly than any other age group. In the 2020 presidential election, for example, more than 3-in-4 people eligible voters between the ages of 65 to 74 voted as compared to about 2-in-4 eligible voters between the ages of 18 to 24. Since Rhode Island has an older population, seniors are a key group in pretty much every state and local election.  Winning campaigns in Rhode Island and throughout the nation devote time and advertising dollars to reaching seniors.”

According to Bob Weiner, former chief of staff director of the House Select Committee on Aging under Florida Congressman Claude Pepper and former spokesman for both the Clinton and Bush White Houses, no one can forget the clout of older voters because they are the most motivated demographic group to vote. “They can’t be broken out by political parties as people expect,” observes Weiner, noting that it is a very close 50-50 split vote. “Older voters vote Democratic and Republican; the Democrats must do more to capture the senior vote.  It’s close. In 2020, while Joe Biden won the popular vote by 7 million, Donald Trump won the senior vote 52% to 47%. It’s not a matter of party. Seniors’ quality of life is not political,” he says.

“But on the issues, they will tear apart a candidate who doesn’t support Social Security, Medicare and the rights of seniors to have continued employment and privileges in society,” Weiner notes.

“So, anybody who thinks they can get away with some horrible position, such as cutting back Social Security or Medicare in five years or utilizing the myth that Social Security is in deficit crisis, they can’t  because it has a 2 trillion surplus resulting from Claude Pepper negotiations to keep the program fully solvent through 2034,” Weiner says, noting that it only needs a “little repair” to keep it going.    

“Anybody who thinks that they are going to use Social Security and seniors to fund other federal government operations is badly mistaken,” says Weiner. “When President Bush wanted to privatize Medicare and Social Security and made a campaign out of that he actually helped lose congressional seats in an off-year election,” said Weiner, warning political candidates to think twice when thinking about balancing the federal budget on the backs of the nation’s elderly. 

“Voting Gives You Power”

“In Rhode Island and across the country, the data clearly show that voters aged 50+ will be the deciders in the 2022 elections,” said AARP Rhode Island State Director Catherine Taylor. “We are working with dozens of advocacy volunteers who are fighting for voters 50+ to make their voices heard on the issues that matter – especially in Rhode Island where we are in the midst of a housing crisis, nursing homes are in jeopardy, the cost of long-term care is skyrocketing and where people want leaders who are committed to making local communities more livable.

“At the federal level, older voters want to know candidates’ positions on protecting and strengthening the Social Security benefits Americans have paid into and earned through years of hard work, protecting and improving Medicare benefits, lowering prescription drug prices, and supporting family caregivers who risk their careers and financial futures to care for parents, spouses, and other loved ones,” Taylor said.

“Voting gives you the power to decide what our future looks like,” she continued “But you have to be in the know to vote. AARP Rhode Island has collected the most up-to-date election information, including key dates and deadlines, to make sure that the voices of voters 50+ are heard. We are doing everything we can to make sure older Rhode Islanders are prepared to vote and know the safe and secure voting options included in the new, AARP Rhode Island-backed Let RI Vote Act. In mid-August, we will offer a Video Voter Guide posted along with all the latest election information at aarp.org/RIvotes,” Taylor said.

Co-sponsoring this event is a broad coalition of 18 service providers and advocates: 

A Community Together, Alzheimer’s Association of RI, Carelink, Community Partners Network of RI, Economic Progress Institute, Leading Age RI, NAACP Providence Branch, Ocean State Center for Independent Living, PACE, Progreso Latino, RI Assisted Living Association, RI Elder Info, RI Health Care Association, RI Organizing Project, RI Senior Centers Directors Association, SEIU Healthcare 1199, Senior Agenda Coalition of RI and Village Common of RI.

in the high school’s new 900-seat capacity auditorium. 

To read AARP web blog articles discussing the impact of senior voters at the polls, go to: 

www.aarp.org/politics-society/government-elections/info-2022/older-voters-midterm-issues.html

www.aarp.org/content/dam/aarp/research/surveys_statistics/politics/2022/aarp-targeted-congressional-districts-survey-voters-18-older.doi.10.26419-2Fres.00550.033.pdf

https://press.aarp.org/2022-4-6-Women-Voters-Age-50-Over-Will-Decide-Balance-Power-Next-Election