After Rally with De Blasio, City Council Hears Bills on Private Sector Retirement Security
Just days after he ended his presidential campaign that was focused on issues affecting working people, Mayor Bill de Blasio rallied with AARP volunteers and City Council Members at City Hall on Monday to push for a proposal that could help millions of New York workers save for their futures.
The Retirement Security for All proposal, which de Blasio first raised three years ago and then again in his State of the City speech this year, would establish a retirement savings program for private-sector employees whose employers do not currently provide those options, and a city government board to oversee its implementation.
There are two bills in the legislative package that would create the system and the board and sponsored by Council Members I. Daneek Miller and Ben Kallos, who led a hearing on the proposal shortly after the Monday morning rally.
“You should not have to work until you die,” de Blasio said at the rally. “You should be able to enjoy the fruits of your labor. You should be able to have some time in your life when you retire with dignity.”
The mayor said that 40% of New Yorkers aged 50-64 have less than $10,000 saved for when they retire.