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Carpenter Morse Group Inc.
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|Automatic Signup In 401(k)s Backed: Provision Eyed for Social Security Bill|
The Washington Post; subscription may be required
May 23, 2005
Excerpt: House Ways and Means Chairman Bill Thomas ... will include a provision in his Social Security legislation to help employers make enrollment in 401(k) plans automatic unless workers choose to opt out.... The provision could have substantial impact on the nation's savings rate, which has declined from 7.2 percent in 1992 to barely 1 percent today. Recent academic research has shown that employee participation rates soar among companies with automatic enrollment in retirement plans.
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