The President’s FY2011 budget proposal, submitted to Congress in early February, generally does not change previous policy, but does include revisions that would expand both automated IRA enrollment and the Saver’s Credit.
The Obama Administration is proposing changes in the Saver's Credit and provisions to require employers to offer an automatic IRA. Both are contained in the Administration's proposed 2010 budget.
With the new Administration driving its proposal to bring automatic IRA enrollments to retirement savings, and with Congress energized by a spending-heavy stimulus package, the agenda for this Congress is filled with retirement-related proposals.
The House Ways and Means Subcommittee on Select Revenue Measures held a hearing in June to consider changes to existing Individual Retirement Arrangements (IRAs) that are proposed in two House bills.
