Obama Administration Proposes Increased Access to Retirement Savings Plans
President Obama recently announced that details of his plan for increased access to retirement savings accounts will be outlined in his FY2017 budget. The proposed changes and initiatives include encouraging companies to offer retirement savings plans, lowering the cost of pooled 401(k) plans, and providing tax cuts to employers who offer “generous retirement savings plans”. Employers are encouraged to familiarize themselves with this proposal should the president’s budget be approved.
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