Clinton proposes 401(k)-type savings plan

Democratic presidential candidate Hillary Clinton today announced a proposal to offer a 401(k)-type plan for all Americans.
As part of Ms. Clinton’s proposed American Retirement Accounts Plan, the government would offer a matching refundable tax credit for the first $1,000 contributed by every married couple making up to $60,000, according to Ms. Clinton’s campaign website.
Individuals will be able to set up their accounts with any private provider that offers diversified investment options and includes a passively managed lifecycle-type fund as a default option, according to the website.