Treasurer Pearce Statement on the passage of S.135 creating the Green Mountain Secure Retirement Plan
“I want to applaud the General Assembly on the passage of S.135 and the enabling legislation to create the “Green Mountain Secure Retirement Plan.” The Senate Committee on Economic Development, Housing & General Affairs; the House Committee on Commerce & Economic Development; and the House Committee on Government Operations were particularly instrumental in their support, leadership, and careful vetting to make this bill a reality. I also want to thank the Scott Administration for their support of this bill as well as the members of the Public Retirement Study Committee.
Every Vermonter deserves an opportunity for a lifetime of financial wellbeing. The passage of this bill will allow the State to make substantive steps towards implementing a voluntary retirement program for Vermonters who currently lack access to employer-sponsored retirement plans. This program will broaden the opportunity for more Vermonters to be better prepared for retirement and in doing so strengthen the economic vitality of our State. I want to praise the broad group of Legislators from all parties in the House and Senate and stakeholder groups who worked together to create this bill. The bill is a culmination of three years of study overseen by my office with the Public Retirement Study Committee. Today 104,000 Vermonters do not have access to employer-sponsored retirement plans. I look forward to working with businesses, advocacy groups, and other stakeholders to implement a program that works for all Vermonters.”