July 6, 2017

WE ARE ALL THIRD WAY NOW:

Oregon Just Took the Lead in Getting Americans to Save More for Retirement (Eric Pianin, July 6, 2017, Fiscal Times)

Bucking resistance from a Republican Congress and the Trump Administration, Oregon has become the first state to launch a program requiring private employers to either offer their own 401 (k) savings accounts or automatically sign up workers for state-run individual retirement accounts. [...]

The so-called OregonSaves program began over the weekend with a modest pilot project and will gradually be extended to all businesses by mid-2020. Employees are automatically enrolled in the savings program unless they choose to opt out, and their contributions of up to 10 percent of their pre-taxed income are made through automatic payroll deductions.

The Roth IRAs that workers invest in are "portable" and stay with them throughout their careers, regardless of where they work. Employers are not responsible for contributing to the retirement accounts, and their primary responsibility is passing along information about the program and handling payroll deductions.

Do the same with HSAs.
Posted by at July 6, 2017 6:01 PM

  

« MODERNITY IS SO CONFUSING (self-reference alert): | Main | ALL COMEDY IS CONSERVATIVE: »