If a new bill passes, saving for retirement might become much simpler.

Although stalled during health care debates in Congress, plans are underway to reintroduce bills that would require small businesses with more than ten employees to offer an automatic individual retirement account, also known as an auto-IRA. Under this plan, an employer would automatically deduct up to 3% from an employee’s salary and invested.

The plan would allow for other options, including the ability to opt out of investing in an auto-IRA as well as the possibility of forming a Roth IRA on which there are no taxes on withdrawals.

The proposed bill would help fill the gap for the almost 80 million Americans who do not have a retirement plan through their work. The bill has also garnered bipartisan support in part because it would offer tax credits to employers in exchange for setting up an auto-IRA.

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