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Employers could enroll workers in an opt-out direct deposit savings account

By Hicbd
Thu Nov 8 2012 4:14 pm

Employers could enroll workers in an opt-out direct deposit retirement or savings account that places a small percentage of each paycheck into the account as shown in the AutoSave and Automatic IRA programs. Employers could receive temporary tax credits to offset the administrative cost. This could encourage banking access, savings, and financial stability.

URL:
http://assets.newamerica.net/autosave_overview
http://www.mdrc.org/project_16_98.html
http://www.brookings.edu/~/media/research/files/papers/2009/7/automatic%20ira%20iwry/07_automatic_ira_iwry

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Categories:
Poverty Banks Financial Services Work Asset Building Corporate Social Responsibility (CSR)

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