written by Tom Beisner
I think these initiatives are great! Anything that will allow people to put more into their retirement plans and save on current taxes is a good idea in my opinion.
A recent article outlined President Obama’s initiatives to help people increase their savings:
- Make it easier for small businesses to automatically enroll workers in a 401(k) or IRA.
- Gradually increasing automatic worker contributions over time.
- Allow taxpayers to check a box on their tax return to have their refunds sent to them as savings bonds.
- Make it possible for employees to put payments for unused vacation or sick days into their retirement plan.
Read the full article posted by Web CPA