Retirement savings

Employee ownership could be the key to solving our retirement security crisis

At a time when retirement seems out of reach for many Americans, there is clear and convincing evidence that people who work for private businesses with Employee Stock Ownership Plans (S corporation ESOPs) have far greater retirement security than the average American.

That is why when we were in Congress, we led bipartisan legislation to encourage

Half of American households have no retirement savings

In 2019, about half of American households had no savings in retirement accounts, according to the Survey of Consumer Finances (SCF). These accounts include individual retirement accounts; Keogh accounts; certain employer-sponsored accounts, such as 401(k), 403(b), thrift savings accounts; and pensions.

Personal saving has grown more important as

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