'Create a Stronger, More Powerful 401(k)': Mark Iwry, Senior Adviser to the Treasury Secretary
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Iwry is senior adviser to the U.S. Secretary of the Treasury and deputy assistant secretary for retirement and health policy.
Tens of millions of working families in this country have no access to an easy, convenient way to save on a tax-favored basis. They are not eligible for employer-sponsored programs, such as pensions or 401(k) retirement plans. The President has proposed a major expansion of retirement savings coverage. The proposal for "automatic IRAs" would extend the power of automatic enrollment to those employees who don't have access to a 401(k), by letting them use their employer's payroll system as a conduit to channel their savings through automatic enrollment into individual retirement accounts (IRAs).