Auto enrollment in IRAs proposed
A bill that calls for many small businesses to automatically enroll their employees in IRAs was introduced last month.
A bill that calls for many small businesses to automatically enroll their employees in IRAs was introduced last month. Called The Automatic IRA Act of 2007, S 1141 would require companies that have been in business for at least two years and have more than 10 employees to allow direct-deposit payroll deductions to an IRA.
The measure would give affected businesses temporary tax credits to offset administrative costs. Introduced by Sen. Jeff Bingaman, D-N.M., the bill was referred to the Senate Finance Committee.
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