Colorado lawmakers may soon vote on a bill to establish a Colorado secure choice savings plan, which would allow employees to contribute to publicly-administered retirement accounts through modest payroll deductions.
This would be a huge benefit to small businesses that struggle to offer retirement benefits. My business, Pagosa Baking Co., is one of many in Colorado that simply cannot afford to offer retirement options. Providing this benefit would help with long-term employee retention and might encourage a more stable workforce in our tourism-dependent town.
It would provide an easy and affordable option, which is why small-business owners like me strongly support it. In fact, new polling from Small Business Majority and AARP Colorado found three in five Colorado small businesses support a state retirement savings program, and two thirds believe that such a program would provide small businesses a competitive edge.
Here at Pagosa Baking Co., we treat our employees like family, and I’m worried they won’t be able to sufficiently save for retirement without a state-sponsored program. That’s why Colorado lawmakers should support the secure choice savings plan.
Kathy Keyes
Pagosa Springs
