Sens. De León, Steinberg and Asm. Furutani to Unveil Major Retirement Savings Plan for Private Sector

Wednesday, February 22, 2012

 U.S. Personal Retirement Savings Deficit Stands at $6.6 Trillion and Counting

 Thursday, February 23, 2012

 10:00AM

 In Front of State Treasurer’s Office

 FIVE NATIONALLY-RECOGNIZED RETIREMENT EXPERTS AVAILABLE VIA PHONE--BIOS BELOW

 SACRAMENTO, CA – Addressing the looming “retirement tsunami” represented by the massive shortfall pending in most people’s retirement, Senator Kevin de León (D-Los Angeles), Senate President Pro Tempore Darrell Steinberg (D-Sacramento) and Assemblymember Warren Furutani (D-South Los Angeles County), Chair of the Assembly Public Employees, Retirement and Social Security Committee to unveil a comprehensive retirement savings plan for the seven million private sector workers without access to a workplace retirement plan.

 According to experts, nearly 50% of middle-income Californians will retire at or near poverty given present conditions. Senator De León is proposing a plan that allows people to take individual responsibility for their retirement savings at no cost to taxpayers.

WHO:               Senator Kevin de León

 Senate President Pro Tempore Darrell Steinberg

 

Assemblymember Warren Furutani, Chair of the Assembly Public Employees, Retirement and Social Security Committee

 

                         David Pacheco, President, AARP of California

                         Jon Hamm, CEO, CA Association of Highway Patrolmen

                         Andrew Blaskovich, Owner, Drewski’s Hot Rod Kitchen

 Gary Passmore, Vice President and Director, Congress of California Seniors

  VISUALS:      Drewski’s Mobile Hot Rod Kitchen

                         Drewski’s owner and employees also available on site for comment

  WHERE:         California State Treasurer’s Office – In front near the fountain

                         915 Capitol Mall

 Sacramento, CA 95814

  WHEN:           10:00 a.m., Thursday, February 23, 2012

  EXPERTS:      Available via phone:

 Diane Oakley, Executive Director, National Institute for Retirement Security: In January 2011, Diane Oakley was named executive director of the National Institute on Retirement Security (NIRS). Before joining NIRS, Ms. Oakley served as senior policy advisor to Congressman Earl Pomeroy, for whom she formulated legislative strategy on a range of tax, pension, Social Security, financial services, and workforce issues. She holds a B.S. in Mathematics from Fairfield University, where she graduated Cum Laude and earned an M.B.A. in Finance from Fordham University. 

 Ilana Boivie, Director of Programs, National Institute on Retirement Security:  An economist, she conducts original research and analysis regarding U.S. retirement issues, and helps direct NIRS' overall programming. She was the lead author of Pensionomics: The Economic Impact of State and Local Pension Plans, and has been instrumental in virtually all NIRS research and educational programs for over three years. Ms. Boivie is a frequent speaker on pension and economic matters, and has testified before policymakers regarding her research.  She originally came to NIRS as a Policy Analyst after completing a M.A. in Economics at New Mexico State University, where she studied applied econometrics and experimental statistics.

 Teresa Ghilarducci, Labor economist and nationally-recognized expert in retirement security, economics professor at The New School: Teresa serves as the Bernard L. and Irene Schwartz Chair in economic policy analysis and director of SCEPA, the Schwartz Center for Economic Policy Analysis that focuses on economic policy research and outreach.  Author of When I’m Sixty-Four: The Plot Against Pensions and the Plan to Save Them (2008).

 Dr. Christian E. Weller, an associate professor of public policy at the University of Massachusetts Boston and a senior fellow at the Center for American Progress in Washington, D.C.: He is a widely published academic who specializes in retirement income security, household wealth inequality, and macroeconomics. Dr. Weller holds a Ph.D. in economics from the University of Massachusetts, Amherst.

 Nari Rhee, Associate Academic Specialist, UC Berkeley Center for Labor Research and Education: Nari Rhee is an Associate Academic Specialist, working on policy research and development to expand retirement security for workers in California. She completed a Ph.D. dissertation in Geography at UC Berkeley in 2007, studying working class politics in Silicon Valley, and earned her M.A. in Urban Planning at UCLA in 1998. Prior to her current position, she was a Visiting Scholar and a Postdoctoral Researcher at the Labor Center, focused on workforce development and models of organizing in the human services sector. She has partnered with labor and community organizations throughout her academic career to generate rigorous research on issues affecting low-wage workers and their families.

 CONTACT: Communications Director, Gregory Hayes, (916) 812-3122, Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 Greg.Hayes@sen.ca.gov