Saving for retirement and savings stated after retirement. And you reap lord says americans s accounts are rising. This is just under two hours. The finance committee will come to order. Would you take a look at the state of Retirement Savings in america, it is clear that something is out of whack. The american taxpayer subsidizes retirement accounts. Still millions of americans nearing retirement have little or nothing saved. The fact is the incentives and savings in the american tax code are not getting to those who need them most. Of the pack savings has about 59,000 set aside for retirement. According to the Government Accountability office, 9000 taxpayers have fire a ira accounts worth 5 million. It would take several lifetimes of work for the typical middleclass american to save that much money. How did the massive ira accounts come to be . In many cases they seem to be stock deals that most investors would never have access to. Executive buy stocks at a special rockbottom price
State lawmakers are considering a proposal to create a state-sponsored retirement savings program to help residents who may not have enough when they're older. HPR's Casey Harlow has more.