The Department of Labor will issue guidance on state mandates that require small businesses to automatically enroll employees in IRAs by the end of the year.
That announcement was made at Monday's Conference on Aging, hosted at the White House.
At least 20 states have proposals in the pipeline that would require businesses with, in some cases, as few as five employees to enroll employees in savings plans. Initiatives in Oregon, Washington and Illinois have already passed.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
