Automatic IRA Act of 2010 Introduced in House

Congressman Richard E. Neal (D-MA) introduced the Automatic IRA Act of 2010.  The bill is a companion to one introduced in the Senate (S. 3760) that would require automatic IRA accounts by employees with 10 or more employees.  The bill would allow income to be deposited directly into IRA accounts and would allow for business to deduct at least some of the administrative costs.

Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.