Alliance for Retired Americans Issues Statement on Retirement Savings Executive Order

WASHINGTON, Aug. 31 -- The Alliance for Retired Americans issued the following statement by Executive Director Richard Fiesta on President Trump's forthcoming executive order on retirement savings as described by the Wall Street Journal:

"According to media reports, the executive order President Trump will sign today will help Wall Street, not people living on Main Street. It is a cruel irony to issue this order as we begin Labor Day weekend since it will not address any of the very real challenges facing retirees and working families.

"We do not need yet another scheme that allows wealthy Americans to shelter more of their retirement savings from taxes. We also do not need to create new ways for investment brokers to make money.

"You can't save what you don't earn. To ensure a secure retirement for all Americans we need higher wages, lower health care costs and to expand Social Security's modest benefits by forcing all Americans to pay their fair share."