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Incentivize Participation in Workplace Plans to encourage Wisconsin employers who currently offer retirement plans for employees to utilize auto-enrollment to maximize participation.

Emergency Savings structure that ensures Wisconsin workers have rainy day funds and don’t need to tap into retirement savings when the unexpected happens.

Nearly 60,000 kids born each year would access the benefits of compound interest and a life-long savings tool they could use to build wealth, buy their first home, pay for education, and save for retirement.

401(K)IDS sets our future generations up for success by providing every child born in Wisconsin with a target-date investment account to build long-term wealth and provide meaningful financial education.

WisconsinSaves is a simple, plug-and-play auto-IRA enrollment program for Wisconsin businesses of all sizes, which would utilize best practices to extend access to retirement savings to nearly 1 million Wisconsinites who do not currently have access.

The Task Force solutions represent a holistic approach to retirement savings and financial security, and feature the following proposals: Retirement Security Task Force Final Recommendations Report.pdf

On Wednesday, February 10, 2021, the Retirement Security Task Force announced five innovative, bipartisan, and cost-effective solutions to ensure Wisconsinites can retire with financial security and peace of mind. If lower and moderate income households (up to $40,000/year) were to save 3% of their income through 2030, state expenditures in 2030 may decrease by $3.1 billion annually. Medicaid, Homestead Tax Credit, Wisconsin Home Energy Assistance Program and Supplemental Security Income) are estimated to be $4.7 billion annually by 2030 an increase of $3.5 billion from 2015. Projected expenditures on senior programs (i.e. The long-term financial health of Wisconsin is at risk if no action is taken. “I’m excited to chair this task force and look forward to working with stakeholders to bring achievable solutions forward for the state of Wisconsin.” We’re working to schedule events around the state to continue to hear the perspectives of people on all corners of this issue,” said Treasurer Godlewski. “Our first step as a task force is to hear from and understand the barriers Wisconsinites are facing across our state when it comes to saving for retirement. By listening to people across Wisconsin, the Governor’s Task Force on Retirement Security will explore ways to ensure people can adequately save.

The Governor and the Treasurer believe hard-working Wisconsinites deserve to have peace of mind and feel secure when they retire. On September 16, 2019, Governor Tony Evers signed Executive Order #45 creating the Governor's Task Force on Retirement Security and addressing the growing crisis of retirement security in the State of Wisconsin. Wisconsin’s aging population is expected to increase by 60% by 2030, yet currently, one in seven registered voters in Wisconsin have no way to save for retirement at work.