Tag: auto-IRA
But why try to put sand in the works? A bright spot on the retirement income landscape is state initiatives to establish “Auto-IRA” programs for uncovered private sector workers within their state. The programs are voluntary – workers can always opt out. The employer’s role is limited to making sure the right contribution amount is…
Programs are not related to public defined benefit plans, will not undermine existing 401(k)s, and will have adequate protections. Very few workers save for retirement outside of employer-sponsored retirement plans. But many private sector workers lack access to such plans. To help these individuals save for retirement, several states are planning to offer so-called “auto-IRAs,”…
