Drop in Retirement Savings: The Challenges Small Businesses Face Funding and Maintaining Retirement Plans in a Struggling Economy

In February 2009, amid the Great Recession's steep declines in the financial markets, Catherine Collinson testified on behalf of Transamerica Center for Retirement Studies as an expert witness at a congressional hearing on Drop in Retirement Savings: The Challenges Small Businesses Face Funding and Maintaining Retirement Plans in a Struggling Economy. 

Ms. Collinson's testimony focused on recommendations for enhancing retirement security by strengthening the existing system, making it easier and more affordable for small business to offer retirement benefits, and expanding the Saver's Credit tax credit for low- to moderate-income workers. 

The hearing was convened by the U.S. House of Representatives Committee on Small Business on February 25, 2009.