State Treasurer of Iowa

Treasurer Fitzgerald Calls Attention to National Retirement Security Month

September 28, 2021

Des Moines, Iowa – State Treasurer Michael L. Fitzgerald is emphasizing the significance of opening and maintaining a retirement savings account as part of his efforts for National Retirement Security Month in October. “You may not know exactly what retirement will bring, but you can save for it,” said Fitzgerald. “This October, I encourage everyone to set goals for their retirement savings and learn how to effectively manage those funds.”  

According to an AARP article published in August, over half of all workers do not have access to a retirement plan at their place of work. “This is a real problem,” continued Fitzgerald. “American workers deserve access to a retirement savings plan to ensure their post-work life aligns with their retirement goals.”

Treasurer Fitzgerald continues to be a supporter of state-backed retirement programs. In 2016, he proposed Retirement Savings Iowa, an initiative aiming to ensure all working Iowans had access to inexpensive and professionally managed retirement savings accounts. Employers, especially small businesses, who do not have the means to provide retirement saving plans for their employees would be able to participate in Retirement Savings Iowa. With automatic enrollment and payroll deductions, Iowans would be prepared to build their retirement savings. “It can be a burden on smaller employers to set up and maintain a retirement savings plan,” commented Fitzgerald. “We know many small employers would like to offer a benefit to allow employees to save for retirement, but don’t have the resources. Retirement Savings Iowa would remove the costs and complexities associated with starting a retirement savings plan and benefit both the employer and employee.”

Treasurer Fitzgerald continues to advocate for the implementation of Retirement Savings Iowa through legislative actions, but in the meantime, he encourages individuals to take charge of their own retirement savings. National Retirement Security Month provides an opportunity to reflect on personal retirement goals and determine if you are on target to reach them. “No matter how early you are in your career, creating a plan for retirement is one of the most important things you can do,” remarked Fitzgerald. “Envisioning what you want your post-work life to look like and forming a financial plan on how to achieve your goal can make all the difference.”

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