Arkansas

AARP Arkansas Calls for Public-Private Retirement Savings Option

Published

1 year ago

March 3, 2025

AARP Arkansas Calls for Public-Private Retirement Savings Option

A recently completed survey by the AARP shows an overwhelming number of Arkansas small businesses believe more should be done to support retirement savings options for their employees.

Arkansas’ division of the AARP presented its findings Monday on the steps of the Arkansas State Capitol. In a survey of small business owners, 79% said they would support legislation to establish a privately managed statewide retirement savings option, while 88% said they would support legislation to create a public-private retirement savings option.

A “public-private” savings option is a savings partnership overseen by the state and run by a financial services provider from the private sector. Employees can voluntarily sign up for an account and take it from job to job while deciding how much retirement savings they would have deducted from their paycheck.

AARP Arkansas’ proposal, dubbed “Arkansas Saves,” would require legislative support in order to pass.

“Small businesses recognize there is a retirement savings crisis in Arkansas,” AARP State Director Ashley McBride said. “They want lawmakers to take action. More than 514,000 Arkansans cannot access a retirement savings plan at work. If we make it easy for more workers to save through payroll deduction, small businesses will benefit, taxpayers will save money, and workers will build savings that will provide more options in their retirement.”

AARP Arkansas’ research suggests that 76% of the state’s small business owners believe offering a retirement savings plan would help them stay competitive. According to Pew Charitable Trusts, Arkansas could save up to $2.7 billion over 20 years by implementing a public-private savings option such as Arkansas Saves.

“AARP Arkansas has a mission to help people choose how to live as they age,” said Chris McCoy, associate state director of advocacy and outreach for AARP Arkansas. “To truly be able to choose, you have to start saving for retirement early, preferably from job one. The plan we’re proposing is a big step forward in helping small businesses offer retirement savings options for their employees without burdening the small businesses that are the backbone of Arkansas’ economy.”

Legislation similar to Arkansas Saves was recently passed in Missouri. All told, over 11 states have passed public-private savings programs for retirement, with the assets under management exceeding $839 million.

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Arkansas

Arkansas Governor joins national A.I. workforce initiative

Published

7 hours ago

June 25, 2026

Press Room

Arkansas Governor joins national A.I. workforce initiative

LITTLE ROCK, AR (KATV) — Governor Sarah Huckabee Sanders has joined a new national artificial intelligence initiative that launched Thursday, June 25.

RAISE US, started by former Governor Eric Holcomb of Indiana and Gina Raimondo, former U.S. Secretary of Commerce is a nonpartisan national organization that will partner with governors, employers, workers and training organizations to help the workforce transition to an AI economy.

“As artificial intelligence transforms America’s economy, we have one clear message: technology should empower people, not replace them. By leveraging our Arkansas LAUNCH initiative, and with the resources and expertise provided by RAISE US, Arkansas will turn that mission into reality. We want the Natural State to be a leader on education, workforce training, and up-skilling, and this new partnership gives us the tools we need to build a model for the entire nation.”

The organization will design and pilot incentives to retrain workers, new approaches to support job transitions, and training models tied to employer demand.

RAISE US launches with more than two dozen American companies and philanthropies and initial state partnerships in Connecticut, Maryland and Utah.

“America has a technology strategy for leading the global AI competition. It does not yet have a people strategy — and we cannot lead without one,” Raimondo, who will serve as CEO of RAISE US, said.

“If we build the best AI systems in the world and leave millions of Americans behind, we won’t have won anything; we’ll have automated our own decline. I believe AI will create new jobs and industries over time, but the transition could be disruptive, and it’s already underway. We shouldn’t fearmonger, but we can’t pretend our training and worker support systems are ready either. It’s time for innovative and practical solutions. This moment demands ambition, urgency, and creativity. We’ve assembled the country’s top companies, best economists, and bipartisan governors at a scale rarely seen — all to advance new ideas and incentives, pilot them with governors and business, and scale what works.”

Governor Sanders is partnering with RAISE US to support Arkansas LAUNCH, an AI-powered career navigation platform that connects students and jobseekers to personalized learning and employer-linked career pathways.

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