De Blasio pushes proposal for city-run universal retirement plan

De Blasio pushes proposal for city-run universal retirement plan
Bill de Blasio (Image: YouTube screen grab)

[Ed. – What could possibly go wrong?]

Mayor Bill de Blasio might have given up his White House ambitions, but he’s not backing down from his feud with President Donald Trump.

De Blasio rallied at City Hall with the AARP and other advocates for a bill that would establish a city-managed individual retirement account and automatically enroll private sector workers who do not have access to a 401(k) or pension program through their employer. The renewed push for the “universal retirement” initiative, which follows a similar effort the mayor made five years ago, comes in spite of Trump and Congress’s repeal of an Obama-era rule which explicitly permitted such systems—and which already exist in Oregon, California, Illinois, Connecticut and Maryland.

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