Could a whole new government-backed program close the retirement savings gap?

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The newly passed SECURE 2.0 Act of 2022 initiated several retirement plan changes and enhancements.  A key focus of this legislation is to expand coverage and retirement savings for those who are not taking advantage of their 401(k) or who do not have access to a corporate retirement plan whatsoever.  These expansions include extending auto enrollment, enhancing tax credits for startup plans, and strengthening the savers credits.  Still, some believe a whole new system would be helpful to solve the ever-present savings gap.

Enter The Economic Innovation Group (EIG), a public policy organization dedicated to advancing solutions that empower entrepreneurs and investors to forge a more dynamic and entrepreneurial economy throughout America.  EIG was founded by Sean Parker, the former president of Facebook (now Meta); John Lettieri, former public policy head for the Organization for International Investment; and Steve Glickman, who served as a senior economic adviser during the Obama administration.