In the News: NFIB PA Sets the Record Straight on “Keystone Saves”

December 6, 2023

In the News: NFIB PA Sets the Record Straight on "Keystone Saves"

On December 1st, NFIB PA issued a statement by NFIB State Director Greg Moreland regarding a Pew Research poll and press release advocating for the proposed Keystone Saves program: “It’s yet another mandate on small business. While the bill in its current fashion is unenforceable by any state agency, the legislature will quickly have to enact a penalty structure, as other states have, with fines and fees of up to $5000 for non-participation. The General Assembly often thinks it’s mandates are just one more piece of paper or one more fee, or only 10 additional minutes of compliance time, but when you pile the more than 164,000 regulations that businesses already have on top, it’s not just one more small mandate.” State Director Moreland was quoted in the Cleburne Times-Review regarding the proposed legislation to create Keystone Saves, a state-run retirement savings program: “While the bill in its current fashion is unenforceable by any state agency, the Legislature will quickly have to enact a penalty structure, as other states have, with fines and fees of up to $5,000 for non-participation…The General Assembly often thinks its mandates are just one more piece of paper or one more fee, or only 10 additional minutes of compliance time, but when you pile the more than 164,000 regulations that businesses already have on top, it’s not just one more small mandate.” This article was heavily syndicated in the state. The Central Penn Business Journal highlighted State Director Moreland’s response to the survey results from The Pew Charitable Trusts, which claimed that small business owners support Keystone Saves: “’Apparently, organizations who want to push a political agenda can just make up statistics to push their own political wish list. NFIB is a member-driven organization who takes our policy positions directly from our membership (13,000 in Pennsylvania), using a scientific model with non-leading questions.’ Moreland added that 84% of the 13,000 NFIB members in Pennsylvania oppose this policy.”

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State:

Pennsylvania

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