Tag: retirement savings
Currently IRAs don’t increase retirement saving; balances are rollovers from employer plans. Individual Retirement Accounts (IRAs) were introduced in 1974 under the Employee Retirement Income Security Act. The goal was to enable those without pension coverage in employer-sponsored plans to save in a tax-deferred fashion. IRAs now hold almost half of total private retirement assets,…
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…
