Forced savings is necessary for the future stability of workers, retirees, the broader economy and our tax system. The state of Oregon recently joined four other US states in requiring employers to automatically enroll workers in a retirement savings plan. This is a step in the right direction, but the second critical part of the equation is to keep capital risk low and protect the funds from trust abusing financial sales firms.
More than 30 million full-time workers don’t have access to a retirement plan at their workplace, nor do millions of part-time or independent contractors. Oregon is among five states in the country now requiring employers to automatically enroll workers in a Roth IRA retirement savings plan. Employees can opt out, but if too many do, the plans could fail. Here is a direct video link.
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