As states and others work to address the retirement needs of the contingent workforce, one measure pending in Washington seeks to move the needle on the portability of benefits.
That's a priority for Sen. Mark Warner, D-Va., sponsor of a bill that would set up a $20 million grant fund within the Department of Labor to give states, localities and nonprofit organizations incentives to experiment with portable benefits models.
It is not a partisan issue, he said at a Capitol Hill event to discuss policy solutions for the contingent workforce on June 20. "It's more about whether we are going to stay stuck in the 20th-century policies of the past, or put ourselves on strong footing for the economy of the future."
The Government Accountability Office, which studies other countries' approaches, has also recommended that the DOL have a task force to consider creating a national pension registry to help people track and consolidate their retirement accounts.
