Two leading think tanks, the
They also propose that workers be automatically enrolled and that contributions to the IRA be made via direct-deposit payroll installments to a low-cost, diversified IRA account. To encourage small companies to offer an "automatic IRA," the government would give them a tax incentive.
The proposal says: "Under our approach, those firms that aren't ready to sponsor a plan would be called upon at least to let their employees save in an IRA using the same powerful payroll deposit mechanism that drives 401(k)s."