Investing in America: Why automatic retirement savings are the future
Summary
Many workers in the United States do not have a retirement plan through their employer. Automatic retirement savings programs are being seen as a way to help more people save money for retirement.Key Facts
- Between 33% and 50% of private-sector workers in the U.S. lack employer-sponsored retirement plans.
- Employer-sponsored plans are retirement savings programs offered by companies to their employees.
- Automatic retirement savings programs enroll workers without requiring them to sign up first.
- These automatic programs aim to increase retirement savings participation.
- More participation in retirement savings can improve financial security for workers after they stop working.
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