The 48, shockingly, refers to the percentage of working Americans who don’t even get access to a retirement plan, like a 401, at their place of employment.
The 121,673 is the number of people so far who have signed up and saved through the nation’s oldest such program, OregonSaves, even though it is still being rolled out.The other two numbers come from Tobias Read, who was one of the progenitors of OregonSaves when he was in the state’s legislature, and who now oversees it as the state treasurer.
Among companies with more than 50 staff, who were part of the first waves of the program in 2017 and 2018, some 98% either offer staff OregonSaves or their own plan. Critics note that as many as a quarter or more of workers are still opting out of these programs. And others are using the plans as piggy banks more than retirement accounts, cashing out at least some of their savings after a few years.
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