The Underserved: How Public Policy Could Support Employees Hit Hardest by the Pandemic.

Public policy is the engine of retirement industry innovation. In the last three years, tremendous strides have been made beginning with the SECURE Act, extending to the CARES Act and forecasted in the Biden administration’s policy agenda. However, most enhancements to retirement security benefit those already covered by a workplace-sponsored plan. What about the millions of employees without savings plan access — those who have been hit hardest by the pandemic? For this segment of underserved workers, policy makers and industry leaders like State Street are advocating for effective change.