September 6, 2009
Administration Announces Steps to Boost Participation in Retirement Savings PlansThe Administration announced new (modest) steps to complement the president’s legislative proposals to boost participation in IRAs and match retirement savings. The Department of the Treasury 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.
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