Keith Welks is Senior Advisor to the State Treasurer in the Pennsylvania Treasury Department. In this role he is working on several discrete projects, including the Keystone Saves retirement initiative championed by State Treasurer Stacy Garrity.

Establishing state-facilitated retirement savings programs (SFRPs) comes with costs, but so does doing nothing. Research on “the cost of doing nothing” highlights the potential of SFRPs to address the impact of insufficient retirement income on economic growth, tax revenues and the costs of social services.