Broward County Commission Regular Meeting
Director's Name: Steve Geller
Department: County Commission
Information
Requested Action
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MOTION TO DISCUSS Broward County's facilitation of a voluntary retirement program for private sector employees. (Commissioner Geller)
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Why Action is Necessary
Necessary to permit the referenced Board discussion.
What Action Accomplishes
Permits the referenced Board discussion.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
Summary Explanation/Background
Expanding access to retirement savings is a critical issue for long-term economic resilience, workforce stability, and senior citizen well-being in Broward County.
According to the 2022 Survey of Consumer Finances, sponsored by the Federal Reserve Board, nearly half of all Americans reported having no retirement savings. A March 2025 report from the Georgetown University Center for Retirement Initiatives found that 47% of full-time and part-time private sector workers over the age of 18 lack access to an employer-sponsored retirement savings plan. Small businesses are disproportionately impacted, with 63% of workers employed by businesses with fewer than 50 employees lacking access to such plans. In Florida, the numbers are even more concerning: 59% of private sector workers overall and 73% of small business employees lack access to employer-sponsored retirement savings options.
This lack of access to workplace retirement plans contributes to inadequate retirement savings and increases future reliance on public assistance programs. To date, 20 states have adopted state-facilitated retirement savings programs, aimed at expanding access and promoting retirement security among private sector workers. Such programs can strengthen retirement security, encourage personal savings habits, boost local economies, and lessen future reliance on public services.
Broward County should explore the development of a voluntary...
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