Obama to push automatic Individual Retirement Accounts in State of the Union address

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President Obama will announce measures to introduce automatic individual retirement accounts (IRAs) in the annual State of the Union address on Wednesday, according to David John, principal to the Retirement Security Project (RSP), which helped draft the bill.

The Automatic IRA system would see workers not already enrolled into a workplace savings programme automatically enrolled into 401(k) or other schemes, in a move that could affect up to 78 million US workers.

The renewed emphasis on Automa

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