Keystone Saves Retirement Savings Legislation
Yesterday, PA State Treasurer Stacy Garrity, in partnership with Rep. Pennycuick and Rep. Driscoll, held a press conference introducing the Keystone Saves retirement program. Several organizations, including United Way of PA, joined the Treasurer during the press conference to share their support.
Keystone Saves will help hardworking Pennsylvanians, such as our ALICE population, save for retirement. The legislation will create a new state-level savings program that enables employers – without charge – to offer a state-facilitated retirement plan to their employees by setting up a simple payroll deduction. Participating employees can make regular payroll contributions that are invested in a range of low-cost mutual funds. Workers can opt-out, adjust contributions at any time, and can withdraw contributions tax- and penalty-free for any reason at any time.
Smart savings programs, like Keystone Saves, will help our ALICE population on their journey towards financial stability. Learn more about Keystone Saves and the economic impact of retirement savings.