Private Retirement Benefits in the 21st Century: A Path Forward

Sunday, April 22, 2012 - 8:00pm


Businesses in America, large and small, maintain a long-held commitment to providing voluntary benefits that support the welfare of their workers. Retirement security in particular is a significant focus of voluntary benefit offerings. As Americans live longer, healthier lives, retirement security becomes a greater concern. The private employer-provided retirement system has contributed greatly to the current retirement security of millions of Americans. To continue the success of the system and ensure that employer-provided plans continue to play an important role in retirement security, the Chamber believes that certain issues must be addressed. First, steps must be taken to encourage employers to maintain existing retirement plans and to set up new plans. Second, participants must be encouraged to accumulate greater savings inside of retirement plans. Third, the issue of making assets last throughout retirement must be addressed.

The U.S. Chamber of Commerce Employee Benefits Committee has developed this white paper to offer a path on initiatives and reforms that build on existing institutions and approaches to bolster the voluntary employment-based retirement benefits system and enhance retirement security for workers. The ideas in this paper represent a long-term view of retirement changes that are needed. While some steps can be implemented immediately, we realize that other steps may require additional time. Our recommendations include ways to encourage employers to create and maintain retirement plans, to encourage workers to save more, and to identify ways to make retirement assets last for future retirees. 
Download the full report  (PDF)