Congress Takes Major Step to Expand 401(K) Retirement Savings
U.S. Newswire, August, 2006
WASHINGTON, Aug. 4 /U.S. Newswire/ -- The Pension Protection Act of 2006, when signed into law by the president, will make major progress in expanding personal retirement savings by making it easier for workers to save in 401(k) plans and increasing their incentives to do so by enacting a permanent Saver's Credit. The Retirement Security Project commends Congress for encouraging automatic features in 401(k) plans. Our nation badly needs to increase savings; it is now time for employers to do their part and take advantage of the new legislation by adopting the "automatic 401(k)."
Most American families, particularly middle- and lower-income households, find it hard to save for retirement and other long- term needs. The automatic 401(k) makes saving easier by enrolling...
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