New York Daily News All New Yorkers deserve retirement security by By I. DANEEK MILLER and BEN KALLOS
New Yorkers face the same problem as many Americans: employers do not provide a retirement plan at work. If we don’t address our inadequate retirement system, 2 out of every 5 older American households will fall into poverty or near-poverty when they retire at 62. Along with this human toll, massive downward mobility among the elderly will hurt our economy, cutting demand and jobs while increasing the need for more government and social spending.
Due to federal inaction, 43 states (and the city of Seattle) have made various proposals to expand their residents’ access to retirement coverage. New York State is one of 11 that has passed reforms into law.