#auto-ira

[squaredawayblog]

Savings Boost from Auto-Enrollment Wanes Over Time – Center for Retirement Research

A new study gauges how workers' decisions reduce how much they're able to save in their 401(ks).

[squaredawayblog]

National Retirement Plan Would Lift Low-income Saving – Center for Retirement Research

Most low-income workers don't save for retirement. But if they are given access to an employer plan, the improvement is significant.

[crratbc]

The brief’s key findings are:

Since many workers lack retirement plans at work, some states are setting up programs that require employers without a plan to enroll workers in an IRA.

Oregon was the first state to launch its auto-IRA and is now providing initial data on how workers and employers have responded.

On the positive side, a majority of workers are not opting out and are staying with the default contribution rate of 5 percent.

However, Oregon – as the first adopter – has also experienced delays in getting the payroll deductions up and running.

On balance, the program appears to be off to a promising start.

[jmdeherrera]

myRA 101 from the White House 2014.01.29

FACT SHEET: Opportunity for All: Securing a Dignified Retirement for All Americans

Creating the “myRA” – a Simple, Safe, and Affordable Starter Savings Account to Help Millions of Americans Start Saving for Retirement

 * Year of Action: Making Progress…

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