Missed Opportunity to Support Retirement Equity - Gender Policy Report
On May 17, 2017, President Trump followed the Senate’s lead, signing a resolution rescinding an Obama administration regulation allowing states and cities to automatically enroll private sector workers without an employer-provided retirement plan in Individual Retirement Accounts (auto-IRAs). These accounts use payroll deductions to create savings that grow tax-free until retirement – with contributions made using payroll deductions. And the administration’s move puts current and proposed state and local programs in jeopardy.