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Individual retirement accounts with automatic enrollment features, or auto-IRAs, can significantly impact income during retirement, according to new research on individual retirement accounts by The Pew Charitable Trusts.
Savers enrolled at a 6 percent default contribution have more flexibility to delay claiming Social Security for at least a year while they continue to work or supplement their income with IRA withdrawals, which can boost monthly and annual Social Security benefits by between 7 and 8 percent for life, the research found.
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