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31 July 2008

NY Times on Freelancers Union retirement program

Today's New York Times has an article on the Rockefeller Foundation's initiative to update the social safety net for American workers.  It mentions Freelancers Union's efforts, with support from the Rockefeller Foundation, to start a retirement savings program for independent workers.

[Freelancers Union will] develop a 401(k) program for freelance workers and independent contractors that will have lower service fees than most 401(k)s. The project also calls for furnishing guidance on what type of 401(k) will be best.

“We’re using mutual aid to set up these things,” [Freelancers Union Executive Director Sara] Horowitz said. “We don’t think they should take on all the risk of setting up their own benefits because a lot of them don’t have the expertise.”

If you're interested in learning more about the retirement program when it launches next year, sign up using this short survey.