Universal Voluntary Retirement Accounts fill the gap created when employers do not provide a tax-deferred retirement option for workers. Under this proposal, workers would be able to open an account with a sponsoring state agency and make contributions that employers and states could match. For small employers, this policy could create an opportunity to provide some retirement security without the expense of account setup and management.

 

Resources

Governor: Open CalPERS doors (4/9/2007) 
by John Hill, www.sacbee.com
California will become the first state in the nation to introduce Universal Voluntary Retirement Accounts if a new bill is passed by the state Assembly.  The bill would provide the private sector with access to the state-run investment agency for public employees, CalPERS. 

State Solutions: Universal Retirement Savings (4/1/2007)
by John R. Burbank and Marilyn Watkins, Economic Opportunity Institute
At The Mobility Agenda’s Seattle Roundtable, Burbank and Watkins presented this powerpoint on Universal Retirement Savings Accounts as an attempt to address nationwide lack of access to savings plans.

Illinois Voluntary Accounts Fact Sheet (1/18/2007)
by Dory Rand, Shriver National Center on Poverty Law
This is a brief overview of the need for Illinois Voluntary Accounts and the key features that the proposal would provide.

Illinois Voluntary Accounts (1/18/2007)
by Dory Rand, Shriver National Center on Poverty Law
Dory Rand presented this report at The Mobility Agenda’s Chicago Roundtable. It is an explanation of the challenges faced by Americans trying to save for retirement and the efforts by the Shriver National Center on Poverty Law to create Illinois Voluntary Accounts.

Press Release: Hillary Clinton's American Retirement Accounts Plan: A 401 (k) Plan for All Americans (10/9/2007)
by Hillary Clinton for President
This is Sen. Clinton’s presidential campaign page on her retirement accounts plan. While The Mobility Agenda at Inclusion does not endorse presidential candidates, we are providing this information as Sen. Clinton is the first presidential candidate to make portable retirement accounts a policy priority.

Universal Voluntary Accounts: A Step Towards Fixing the Retirement System (December 2006)
by Dean Baker, Center for Economic and Policy Research
Baker’s report recommends a system of universal voluntary accounts that would be portable for the individual, low cost in administration, and available to every worker in a given state.

Senate Bill 5544 (WVA) (3/7/2005)
by The Senate Committee on Financial Institutions, Housing and Consumer Protection
This is the state legislation for The Washington Voluntary Accounts Program, which was created in order to provide individual retirement accounts to workers in Washington State.

EOI Washington Voluntary Accounts: Creating Universal Access to Retirement Security (12/1/2004)
by The Economic Opportunity Institute
This is a fact sheet published by the Economic Opportunity Institute to explain the pension problem for Washington residents and the potential advantages of Washington Voluntary Accounts.

Policy: Washington Voluntary Accounts (WVA)
by The Economic Opportunity Institute
The Economic Opportunity Institute’s webpage, , offers links to Washington state legislation and policy briefs and issue papers on voluntary accounts and retirement security.

Testimony
Mr. Wolf’s testimony focused on the operation of a national, portable retirement system, financial education, low-cost and high quality service, and distributing retirement payments for employers, based on his experience at the Teachers Insurance and Annuity Association and the College Retirement Equities Fund.