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Overview
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Congress reintroduces a bill to establish a federal automatic IRA system, aiming to extend retirement coverage to uncovered workers. The bill faces challenges due to lack of Republican support and requires employers to provide retirement plans or individual accounts, with automatic enrollment in IRA options. Industry groups have expressed support for the proposal.
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How could the automatic enrollment in IRA options affect the retirement savings of workers?
How might the lack of Republican support impact the success of this bill?
What are the potential implications of mandatory employer-provided retirement plans for workers?
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