The head of State Street Global Advisors is calling on the nation’s lawmakers to legislate a comprehensive retirement policy that would guarantee access to a retirement savings platform for all Americans.
In an open letter to Congress, Ronald O’Hanley, CEO of the Boston-based investment management company, which has $2.3 trillion in total assets under management, said addressing the country’s projected $4 trillion retirement shortfall will require “multiple remedies and hard choices.”
He cited recent data from the Government Accountability Office showing 40 percent of working households lack access to an employer-sponsored retirement savings plan.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
