Findings
Seattle Mun. Code § 14.36.010
in effect14.36.010 - Findings
The City Council makes the following findings of fact and declarations:
A. In 2016, Pew Charitable Trusts conducted a study for the City, reporting that 40 percent of employees in the Seattle metropolitan area do not have access to a workplace retirement savings plan. Applying this figure to Seattle, an estimated 200,000 Seattle workers and their families do not have access to a workplace retirement savings plan.
B. People of color in the Seattle metropolitan area are particularly disadvantaged in terms of access to retirement plans. In the 2016 Pew Charitable Trusts study cited in subsection 14.36.010.A, Pew also reported that 45 percent of black employees, 54 percent of Latino employees, and 47 percent of Asian employees lacked access to a workplace retirement savings plan compared to 37 percent for white employees.
C. The 2016 Pew Charitable Trusts study cited in subsections 14.36.010.A and 14.36.010.B also found that employees of small businesses are especially unlikely to have access to a workplace retirement program, and that 68 percent of employees in the Seattle metropolitan area at firms with under 50 employees lack access to a workplace retirement savings plan.
D. Individuals are far more likely to save for retirement if an option is made available to them in their workplace, especially if they are automatically enrolled into a retirement savings plan.
E. Providing an efficient and cost-effective way to save for retirement will help smaller employers and people of color close the inequitable gap in retirement savings, and improve their retirement security.
F. A retirement savings plan for Seattle workers would help protect the finances of the City by lessening the higher spending on social services that results from insufficient retirement savings.
(Ord. 125467, § 1, 2017.)
Source: City of Seattle, Seattle Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/wa/seattle/codes/municipal_code?nodeId=TIT14HURI_CH14.36SERESAPL_14.36.010FIFetched: 11/1/2026