MADISON, Wis. – State Treasurer Sarah Godlewski was presented with an AARP “Super Saver” award for her leadership addressing Wisconsin’s retirement crisis. As Chair of the Governor’s Retirement Security Task Force, the Treasurer has traveled the state and worked to build a coalition that will effectively address Wisconsinites’ concerns about their financial security. Governor Evers and Treasurer Godlewski received awards at a special presentation at the Capitol on Monday morning.
“After a lifetime of work, Wisconsinites deserve to feel secure and have peace of mind when they reach retirement. They shouldn’t have to worry about going into poverty,” said Treasurer Godlewski. “Our aging population is growing and Wisconsin is facing a retirement crisis. The time is now for the state to step up and be proactive to set Wisconsinites up for financial success.”
As the Chair of the Retirement Security Task Force, Treasurer Godlewski has convened listening sessions around the state to hear from small business owners and individuals on the barriers they face. One in seven registered voters in Wisconsin have no way to save for retirement at work, yet Americans are 15 times more likely to save for retirement when they have a tool available through their workplace.
According to an AARP Wisconsin survey of small business owners, 80 percent agree retirement savings options help small businesses attract employees and stay competitive, and 85 percent of respondents agree Wisconsin lawmakers should support a Wisconsin retirement savings option.
“Expenditures on senior programs such as Medicaid and others are estimated to be $4.7 billion annually by 2030. That’s a $3.5 billion increase from 2015,” said Treasurer Godlewski. “The long-term financial health of Wisconsin is at risk if we don’t act now.”
Treasurer Godlewski is leading the group of lawmakers, state officials, and small business owners, retirees, and workers to devise pragmatic solutions that will be presented to the Governor.
AARP’s fifth class of Super Savers led efforts to help workers increase their retirement savings and includes three governors, three state treasurers, and 12 state legislators.