Tag: auto-IRAs
At any moment in time, only half of U.S. private-sector workers are participating in an employer-sponsored retirement plan, mainly due to lack of coverage. As a result, roughly one-third of households end up completely reliant on Social Security at retirement, while others move in and out of coverage throughout their careers…
Let’s see if fintech and state auto-IRAs are making a difference. Individual Retirement Accounts (IRAs), which hold over half of total private retirement assets, were introduced as a way for workers without an employer-sponsored plan to save for retirement. Instead, they have been primarily used as a vehicle for rollovers from employer-sponsored plans, with direct…
