Tag: retirement savings
The state introduces automatic retirement savings plan for the uncovered. The Illinois Secure Choice Savings Plan, once up and running, will require employers (with 25 or more employees) that do not maintain a retirement plan to enroll their employees in Roth IRAs. Employees can opt out. Lack of coverage is a major problem nationwide sinc…
GAO finds that forced transfers erode in value and people lose track of inactive accounts. Millions of Americans – almost 40 percent of workers – leave their jobs each year, and many fail to specify what should be done with their 401(k) savings. If the balance is small, employers can transfer it out of t…
