Treasurer Torsella Continues Regional Retirement Security Hearings

Holds hearing in Pittsburgh focused on the employer perspective

Pittsburgh, PA – Pennsylvania Treasurer Joe Torsella today convened an informational hearing of Treasury’s newly-created Task Force on Private Sector Retirement Security at the Allegheny County Courthouse, the second hearing to be held across the state to publicly explore the retirement crisis facing the more than two million working Pennsylvanians who lack access to employer-sponsored retirement plans.

"We are convening this task force and holding regional hearings in service of the almost 44 percent of working Pennsylvanians who cannot save for retirement at work. This effort allows us to fully explore the barriers to workplace retirement savings. Once we fully understand the causes of the retirement security crisis and hear from the employers and businesses who are striving to offer the best possible benefits to workers, we can better work towards a commonsense solution that works for employers and employees."

Pennsylvania Treasurer, Joe Torsella

The Task Force on Private Sector Retirement Security consists of State Senator John Blake, Senate Democratic Finance Committee Chair; State Senator Scott Hutchinson, Senate Finance Committee Chair; State Representative Bernie O’Neill, House Finance Committee Chair; State Representative Jake Wheatley, House Democratic Finance Committee Chair; Sarah Gill, AARP; Kevin Shivers, National Federation of Independent Business of Pennsylvania; Frank Snyder, Pennsylvania AFL-CIO; and Bob Jazwinski, Pennsylvania Institute of Certified Public Accountants.

Today’s hearing focused on the “Barriers Impeding Private Employer Support for Effective Employee Retirement Savings” with expert testimony from The Pew Charitable Trusts; Fragasso Financial Advisors; Guideline Technologies; Lockwood Advisors, Inc.; Bridger Financial Group; Allegheny Plywood Company; Sauer Holdings, Inc.; Contact One Communications; Bioptechs, Inc. and Energy Swing Windows.

On January 25 the Task Force will hear expert testimony in Harrisburg regarding the “Options to Address the Retirement Savings Crisis in Pennsylvania.”

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