Retirement Bill Would Mandate Employer Contributions
A bill recently introduced in the House would mandate that employers with 10 or more employees that do not offer a retirement must set up a retirement account for their employees. This account, called a SAVE Up Account (Secure, Accessible, Valuable, Efficient, Universal Pension Account), would have to be funded by employer contributions based on a defined dollar amount that would be adjusted annually for inflation. [6/17/15]