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News Link • Obama Administration

Some People Are Wondering If Obama's MyRA Could Signal The End For 401ks

05-22-2014 • Business Insider

But now Michael Kitces at Nerd's Eye View is asking whether MyRa — a program of small Roth IRAs for those who do not have access to company retirement savings plans introduced by president Obama during his State of the Union address — could signal the "beginning of the end of 401ks." "What’s significant about the MyRA is that it provides the mechanism for employees to someday be defaulted into automatic enrollment (or controversially, potentially even mandatory enrollment) and automatic escalation of future contributions, just as is now available with 401(k) plans," writes Kitces.

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Reported By Robert Lee

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