Putnam Investments requested Congress pass two recently-introduced bills that would require employers to automatically enroll employees in a payroll-deduction IRA,
The Boston fund company said that this could extend retirement savings coverage the “nearly half of all American workers who have no retirement savings plans through their jobs today.” Two bills, H.R 6099 and S. 3760, would require companies with more than 10 employees to automatically enroll them in a payroll-deduction IRA if they are not already covered by an employer-sponsored retirement plan.
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