President Obama planned to announce several initiatives at his State of the Union on Tuesday night that, according to the White House, will give 30 million more workers a way to save for retirement through their employers.
The president's proposals would be funded by closing retirement tax loopholes for the wealthy.
"Americans face a daunting array of choices when it comes to retirement savings. While some workers are automatically enrolled in a retirement savings plan by their employer (with an option to opt out), others have to open an account, manage contributions, and research and select investments on their own," the administration said in a fact sheet released in advance of the president's speech.
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