If more plan sponsors offered automatic IRAs, those who make the lowest amount of money would benefit, according to a study by the Government Accountability Office.
Households without employer-sponsored defined contribution plans or individual retirement accounts had lower incomes and tax rates than households with those plans. They also are more likely to have limited additional resources to draw upon in retirement, the GAO found.
The average income for households without retirement plans was $32,000, compared to $75,000 for those who did have them.
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