Chad Parks of Ubiquity Retirement + Savings spoke to Employee Benefit News, about President Barack Obama calling upon the Department of Labor to propose a set of rules for states to create retirement savings programs.
“It is a huge opportunity. I’ve been championing this cause since I first heard about it,” Parks says.
“I believe it is a good happy-medium solution. Most of our industry is saying that the private industry doesn’t want to do it. If they wanted to do it, they would do it already,” he says. “They don’t have the infrastructure or the desire to have literally millions of individual small contribution accounts on their platform. They are not interested in that. They see it as a customer service issue.”