Robert Pozen’s recent opinion piece sounds good in theory, but in practice it’s not likely to help some 60 million Americans who lack access to a retirement plan at work.

Pozen urges Congress to repeal the new pragmatic programs that state policymakers carefully crafted to help Americans who will be at risk in retirement. Similar to state-run college savings plans, these new retirement programs would give workers an easy and cost-efficient way to build retirement savings. Pozen’s replacement option – a national automatic Individual Retirement Account (IRA) – has languished for more than a decade in Congress and has little support from Republicans.

Read the full letter.