Vice President Joe Biden unveiled the Middle Class Task Force's new report on the middle class Friday, in which he outlined plans to offer automatic Individual Retirement Accounts to most Americans, provided clarification for giving advice to plan participants, and offered a proposal to allow plans to provide guaranteed retirement income products.

"The Administration recognizes that inadequate access to retirement savings plans is threatening the retirement security of workers, which is why we have proposed to lay the groundwork for a system of automatic IRAs in the workplace," the task force report said.

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