A new bill (S. 3760) introduced by Senator Jeff Bingaman (D-NM) would require companies with ten or more employees to provide automatic IRAs to employees if the company does not offer a qualified retirement plan. The proposed bill includes tax credits to help cover administrative costs.
In a press release from Senator Bingaman's office, the Senator claims that his bill would allow some 42 million individuals to have income from their paycheck deposited directly into a retirement account "to better prepare for their golden years."
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
In a press release from Senator Bingaman's office, the Senator claims that his bill would allow some 42 million individuals to have income from their paycheck deposited directly into a retirement account "to better prepare for their golden years."
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
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