U.S. Senator Ben Cardin (D-MD), a member of the Senate Finance Committee, along with Senator Pat Roberts (R-KS), introduced bipartisan legislation aimed at helping more Americans gain retirement savings and security through private employee ownership. A survey released in March by the Employee Benefit Research Institute found that 28% of Americans have no confidence they will have enough money to retire comfortably–the highest level in the study’s 23-year history. In addition, a new study released today by Alex Brill, a fellow at the American Enterprise Institute and CEO of consulting firm Matrix Global Advisors, says that employee-owned companies that have employee stock ownership plans have demonstrated higher productivity and increased economic resilience despite economic fluctuations according to a new story in the Wall Street Journal.
