Here we go again. A possible new burden on already challenged businesses. Note that this has not passed but it is being discussed. In reading the proposed legislation it is a phase in deal so that in the first few years the cost is not extreme. The problem is we all have seen these programs expand.
Democratic lawmakers in the House and Senate have introduced the Automatic IRA Act of 2010 to set up automatic individual retirement accounts for all workers in order to encourage some $15 billion in additional savings a year. Half of all American workers have no retirement savings at all.
I will keep an eye on this for you.
Larry Kopsa CPA
