There are three bipartisan retirement-related bills that the House and Senate are attempting to reconcile before the end of the 2022 legislative session (generally referred to as “SECURE 2.0”). The House bill includes one simple feature — automatic enrollment — that has the potential to enable greater financial security for millions of hard-working Americans.
There’s a looming retirement crisis in the next few decades if we don’t get smart and creative about how to close the $28 trillion retirement gap in the U.S. (the difference between what we’ve saved and what we’ll need to spend when we retire, estimated as of 2015). Auto-enrollment has the potential to be a game-changer in attacking glaring inequities in our current savings system, where millions historically have not had access to the same savings tools as those in higher income brackets.
