As was foreshadowed in President Obama’s last State of the UnionAddress, retirement policy gets considerableattention in the White House’s fiscal year 2017 budget, releasedtoday.
Familiar initiatives that Congress previously has refused tofund, like a nearly comprehensive mandate that small employersauto-enroll workers in IRAs, again appears in President Obama’sbudget, as it has in his seven previous budget proposals.
But this year’s budget also includes new, specific retirementpolicy initiatives, including the creation of “open” multipleemployer plans, a call for the Pension Benefit Guaranty Corporationto raise premiums for troubled multiemployer plans while keepingpremiums in PBGC’s single-employer plan flat, and $6.5 million inmoney for pilot state-run 401(k) plans.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
