The Auto IRA could improve retirement security for millions of workers while boosting Americas saving rate, leading to improved living standards for future generations.The Case for Automatic Enrollment in Individual Retirement Accounts
This In Brief by PPIs Gary Koenig summarizes key findings on the economic impact of the Auto IRA and its potential to bolster retirement security.ReadThe Population of Workers Covered by the Auto IRA: Trends and Characteristics
This report by Benjamin H. Harris and Ilana Fischer of the Brookings Institution shows the Auto IRA would extend a workplace retirement savings plan to roughly one-quarter of the U.S. workforce.
Most of the workers covered under the Auto IRA would be full-time employees and more than 80 percent have earnings less than $50,000.ReadEconomic Effects of Automatic Enrollment in Individual Retirement Accounts
This report by Benjamin H. Harris of the Brookings Institution and Rachel M. Johnson of the Urban Institute illustrates the enormous impact the Auto IRA proposal could have on retirement savings and security.
Average contributions to IRAs for those benefiting under the proposal would increase and an estimated 5 percent to 15 percent of taxpayers would receive a tax cut, with those in the middle-income groups benefiting most.Read
MORE FROM AARP
Retirement Plan Notices: Views of Age Adults 50-Plus
Retirement plan participants 50-plus want to know more about fees, and they identify opportunities to improve plan communication, says AARP research.
Retirement Security Is Worrisome for Illinoisans
Six in 10 (60%) Illinois adults are anxious about having enough money to live comfortably in retirement, including four in 10 (41%) retirees, AARP found.
Asian Americans Lack Confidence in Social Security
AANHPI adults 45-plus say Social Security is one of the most important government programs but are not confident it will be available in the future.
Fiscal Commissions Should Exclude Social Security & Medicare
Support for a fiscal commission to help reduce government debt drops dramatically if the commission could lead to cuts in Social Security and Medicare.
Financial Advice About Retirement Should Be Unbiased
Adults 50+ expect professional financial advice to be in their best interest, and they believe that this fiduciary duty should be required.
