Fink Says U.S. Workers Need Mandatory Retirement Savings
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BlackRock Inc.’s Laurence D. Fink, head of the world’s largest asset manager, said U.S. employers should be required to put money aside for their employees’ retirement, similar to Australia’s superannuation system.
“The current system is not working and we need a comprehensive approach that includes some form of mandatory savings in addition to Social Security,” Fink, chief executive officer of New York-based BlackRock, said today at New York University’s Stern School of Business. “The longer we wait to fix it, the tougher the task becomes.”