The White House
recently released a Fact Sheet about proposals that will be included in the
2017 budget. One of those has to do with employers offering their employees
retirement plans. According to this release, less than 10% of American workers
contribute to some sort of retirement plan on their own if their employer does
not sponsor one.
One of the President’s proposals would require employers
with more than ten employees to automatically enroll each employee in an IRA if
that employer does not offer its employees a retirement plan. A tax credit of
up to $3,000 would be offered to employers with less than one hundred employees
for this “auto-IRA” requirement.
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