The Bell applauds the work of the legislature and state treasurer for passing SecureSavings and taking this critical step toward finding a solution to Colorado’s retirement crisis.
Despite some sticker shock, the cost of the studies actually pales in comparison to the $155 million or more in potential savings if proposed plans successfully increase retirement savings.
Projections may show Colorado’s set to grow in 2019, yet several challenges are still ahead. The risk of a recession is low, but if the forecasts are wrong, they’re likely to be too optimistic.
While the 401(k) gave employees greater control over their retirement funds, it also shifted more of the burden and risk to them. It’s time to adapt the model for a modern workforce.
When an inevitable downturn hits and state revenues head south, legislators will have to find funds to balance Colorado’s budget. They’ll likely turn to a familiar source — college students and their families.
Coloradans in low-wage jobs are seeing pay bumps, but not enough to live a middle class lifestyle. For folks in jobs paying middle class wages, their wage gains aren’t keeping up with costs.