ASPPA CEO and executive director Brian H. Graff's busy week also included a speech at the Congressional briefing on Fiscal Reform and the Future of Lifelong Savings, hosted by the Aspen Institute Initiative on Financial Security. Here are his thoughts on the five biggest myths facing retirement savings:

We all agree that our goal should be to increase the number of workers saving for retirement, and the amount these workers are saving. The question is how do we get there in the most efficient and effective way. An enhanced Saver's Credit would help lower income workers already participating save more, but by itself it will not substantially benefit those workers who are not covered by a plan and not saving in the first place.

What we know works is automatic enrollment in a workplace retirement plan. Moderate income workers are fifteen times more likely to save when covered by a 401(k) plan then when their only option is to save on their own in an IRA. So the policy objective should be how to increase the availability of retirement savings plans at work.

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