Efforts to require automatic workplace retirement savings in Oregon, California, and Illinois were so successful that now the pressure is on Congress to include mandatory coverage and a tax credit in a broad retirement savings proposal for the U.S.
Nearly one in four working-age Americans aren’t saving for retirement, and those who are say they aren’t saving enough, according to a PwC analysis earlier this year. Congress took a stab at closing that retirement gap in 2019 with legislation designed to make it easier for businesses to establish voluntary 401(k)-style plans; research has shown that workers are overwhelmingly more likely ...