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How an Auto IRA Could Work for You

Posted on 09/9/2010 by | Archived Contributor | Comments

Money & Savings Print Print

We can’t hide from the scary statistic in the story from the ABC affiliate in Houston below: about half of American workers don’t have any retirement savings at all.
Last month, Rep. Richard Neal of Massachusetts introduced the Automatic IRA Bill of 2010 that would provide millions of Americans the opportunity to save for retirement in their workplace. AARP strongly supports this bill, as it is a “simple, low-cost solution to the problem that too few Americans are saving for their retirement.”
Check out this story out of Houston. It profiles an employee and his restaurant employer, and how an automatic IRA could work for them – and you.
http://cdn.abclocal.go.com/static/flash/embeddedPlayer/swf/otvEmLoader.swf?version=&station=ktrk&section=&mediaId=7657355&cdnRoot=http://cdn.abclocal.go.com&webRoot=http://abclocal.go.com&site=
AARP has long been a proponent of the automatic IRA – it’s makes the saving process easy and convenient for workers with an automatic payroll deduction, making it more likely that they will contribute to their own nest eggs.
What do you think? Does your employer offer an automatic enrollment option?

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