Barack Obama Looks At Retirement Issues
Presidential candidates have been quiet on Social Security and retirement issues. Obama presents his "Retirement Security Agenda". Here's a fact sheet from the Obama campaign.
Barack Obama’s automatic workplace pension plan will dramatically increase both the number of Americans
who save for retirement and the overall amount of personal savings for individuals. Under this plan, employers
who do not currently offer a retirement plan, will be required to automatically enroll their employees in a directdeposit IRA account. Employees may opt-out by signing a written waiver. Even after enrollment, employees
will retain the right to change their savings levels, reallocate investment portfolios or end contributions to the
account. Obama’s plan will give options to the self-employed to access new easy-to-enroll savings plans and
direct the IRS to deposit tax refunds into those savings plans for people who choose to save some of their
refunds. Under the Obama plan when employees change jobs, their savings will be automatically rolled over
into the new employer’s system to ensure continued savings.