17.5: Workplace Pensions
Create Automatic Workplace Pensions Other Information:
The Obama-Biden retirement security plan will automatically enroll workers in a workplace pension plan. Under their plan,
employers who do not currently offer a retirement plan will be required to enroll their employees in a direct-deposit IRA
account that is compatible with existing direct-deposit payroll systems. Employees may opt-out if they choose. Experts estimate
that this program will increase the savings participation rate for low and middle-income workers from its current 15 percent
level to around 80 percent.
Indicator(s):
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