On November 12, 2014, the Wall Street Journal published "Pension Access for All is Priority for New York City's Public Advocate." The article covers Public Advocate Letitia James' announcement that she plans to introduce legislation in the New York City Council to study how to create pooled retirement savings accounts for city residents without access to employer-sponsored pension plans.
James stated, "Quite simply, too many New Yorkers are not prepared for retirement." She cited research from SCEPA's Retirement Equity Lab, which analyzed city residents' preparation and ability to retire. SCEPA found that 60% of workers in the city did not have access to a retirement savings plan at work, a 17% decrease over the last 10 years.
Her announcement adds to the reform effort of City Comptroller Scott Stringer, who announced creation of an advisory board to study potential reforms at SCEPA's Confronting New York City's Retirement Crisis conference in July, 2014. Public Advocate James gave the keynote address at the event.