State Auto-IRA Programs: The Keys to Financial Self-Sufficiency
December 13, 2016
The brief’s key findings are:
- State auto-IRA programs for private sector workers are intended to pay for themselves.
- This goal is achievable in the long run, but auto-IRAs will incur losses initially.
- The keys to financial self-sufficiency are to:
- keep per-account costs low;
- set meaningful participant contribution rates; and
- charge higher fees initially or finance start-up costs over a longer period.
- keep per-account costs low;
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Citation
Munnell, Alicia H., Anek Belbase, and Geoffrey T. Sanzenbacher. 2016. "State Auto-IRA Programs: The Keys to Financial Self-Sufficiency" Issue in Brief 16-19. Chestnut Hill, MA: Center for Retirement Research at Boston College.
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