With Labor Day approaching, the President commits to rebuilding the economy so that a lifetime of hard work leads to a comfortable retirement.
President Barack Obama will announce new steps to make it easier for American families to save for retirement. These new initiatives will complement the president’s major legislative proposals to boost participation in IRAs and match retirement savings.
The new initiatives will:
Expand opportunities for automatic enrollment in 401(k) and other retirement savings plans,
Make it easier for more than 100 million families to save a portion or all of their tax refunds,
Enable workers to convert their unused vacation or other similar leave into additional retirement savings, and
Help workers and their employers better understand the available options for tax-favored retirement saving through clear, easy-to-understand language.
Together, these steps will expand the range of choices for workers who want to save and will make saving easier for millions of Americans.