Thursday, February 26, 2009

News You Can Use: Obama budget also would mandate auto enrollment, expand saver's credit

Among the proposals in President Barack Obama's budget, unveiled this morning, is a measure to expand retirement plans by requiring employers that do not have such a plan to auto-enroll workers into an IRA, and modifying the existing Saver’s Credit to provide a 50% match on the first $1,000 of retirement savings for families that earn less than $65,000. The credit would be fully refundable to ensure that savings incentives are fair to all workers.

What is your opinion of these proposals and their potential effect on both retirement plans and retirement savings? Ready, set, comment!

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