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A coalition of prominent nonprofit leaders, philanthropic foundations, and retirement security specialists is spearheading a new effort to create a national, portable retirement income plan for the sector. The Common Good Retirement Initiative is a first-of-its-kind opportunity to engage and consult the Canadian nonprofit sector about its collective needs, constraints, and attitudes on retirement saving. The aim is to offer nonprofit workers a convenient, low-cost and effective way to save for their retirement, as well as provide nonprofit employers an easy way to help their employees build long-term financial security. Organizers are asking everyone in the sector to complete a 5-10 minute survey at commongoodplan.org/survey that will help them better understand the nonprofit and charitable sector's retirement needs and offerings. The sector engagement process will take place over the next six months with a decision to be made in Fall 2018 on whether to move forward with implementation. If the initiative secures sufficient backing from employers and associations willing to offer the retirement plan, Common Good would be built and made available to the sector as early as 2019.
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