White House Unveils Retirement Savings Initiatives

Law360, New York (January 25, 2010, 3:43 PM EST) -- The White House on Monday rolled out new proposals to encourage work force retirement savings, including new mandatory opt-out individual retirement account enrollment for workers not covered by an employer's private plan and streamlined 401(k) guidelines to boost employee participation.

The proposals were announced by President Barack Obama and Vice President Joe Biden during a meeting of the Middle Class Task Force, during which they announced details of the administration's new legislative package targeting tax and other financial relief to middle-class Americans, one of the key...
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