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Wisconsin retirement 'crisis' target of new recommendations

Posted at 10:20 AM, Feb 10, 2021
and last updated 2021-02-10 11:20:24-05

MADISON, Wis. (AP) — A bipartisan task force that examined a looming retirement savings crisis in Wisconsin is recommending a series of steps to improve the outlook, including creation of first-of-its kind savings accounts for every child in the state.

The retirement task force released its recommendations Wednesday.

State Treasurer Sarah Godlewski chaired the group and says bills to implement its recommendations will be coming soon.

Other recommendations include creating incentives for employers to create retirement accounts employees would automatically be enrolled in.

The group also calls for creating a state-facilitated, privately managed IRA program called WisconsinSaves.

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