The U.S. nonprofit sector has an uneven track record in providing retirement benefits to its workers, particularly those who are young, part-time, or working at small organizations. These inequities have profound implications beyond just individual financial security in old age; employer-supported retirement savings is one of the primary vehicles for Americans without generational wealth to build it, making it a clear site for intervention to reduce the wealth gap
At the same time, providing retirement benefits means being at the mercy of profit-driven financial service providers, an overwhelmingly white male industry particularly ill-suited to meet the needs of nonprofits. Providers aim to maximize the wealth they can extract from clients, which means prioritizing the needs of big businesses, using opaque pricing schemes, and disregarding the social impacts of their investments.
Join Just Futures to hear the results of a national needs assessment focused on nonprofit retirement benefits. 200+ nonprofits and grassroots organizations contributed insights into how well nonprofits are served by current providers and where major gaps persist. Our findings detail the incredible administrative burden faced by small nonprofits navigating a complex, highly regulated environment and what support is needed from intermediaries and other actors within the nonprofit ecosystem. As organizations cope with impacts from the Great Resignation or Realignment, we believe that our learnings on how values-aligned retirement benefits can be operationalized within the nonprofit sector have a particular relevance.
We call on funders, intermediaries, organizations, and individuals to join Just Futures in reclaiming retirement for all of us: (a) ensuring all nonprofit and movement workers have equitable access to retirement savings and (b) harnessing the financial power of our savings to further our social impact.
All sessions will be recorded. Auto-generated closed captioning in English will be available.
Hosted by Just Futures and co-sponsored by Neighborhood Funders Group, Grantmakers for Effective Organizations, General Service Foundation, Jessie Smith Noyes Foundation, Full Spectrum Capital Partners, The Nathan Cummings Foundation, and Asset Funders Network.
June 9, 2022
10:00 am - 11:15 am
Posted 05/23/2022 in
- Funders for a Just Economy
- Economic Justice
- Philanthropic Practice