SOME WEST VIRGINIANS COULD BE HEADED TOWARD RETIREMENT CRISIS

(12/11/2015)

Some West Virginians may be headed for a retirement crisis. With many of the large corporations having left the state, many being globalized, there's concern that 251,000 West Virginians do not have access to an employer-sponsored retirement program and they are not saving for their retirement. The West Virginia Coalition for Retirement Options is urging private employers to offer that option and for the state to manage a program for businesses too small to do it. The group said 70 percent of the state's businesses with 50 or fewer employees do not have retirement plans. Thousands of retired employees with company sponsored insurance, which is not protected, have lost their retirement benefits.

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