WASHINGTON – In this week’s address, President Barack Obama announced new steps to make it easier for American families to save for retirement. These new initiatives will complement the president’s major legislative proposals to boost participation in IRAs and match retirement savings. Click here to see the video.
The new initiatives will:
- Expand opportunities for automatic enrollment in 401(k) and other retirement savings plans,
- Make it easier for more than 100 million families to save a portion or all of their tax refunds,
- Enable workers to convert their unused vacation or other similar leave into additional retirement savings, and
- Help workers and their employers better understand the available options for tax-favored retirement saving through clear, easy-to-understand language.
Together, these steps will expand the range of choices for workers who want to save and will make saving easier for millions of Americans.
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