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A New Approach to Increase Retirement Security Through Universal IRAs

Recorded on February 14, 2006

Location: The Heritage Foundation's Lehrman Auditorium

With the looming retirement security crisis facing our country, policy-makers from both parties are focused on ways to strengthen pensions and increase savings. David John of The Heritage Foundation and J. Mark Iwry of The Retirement Security Project will propose a new plan for Universal IRAs that would provide a relatively simple, cost-effective way to increase retirement security for the estimated 71 million workers without plan coverage. While reforms currently being debated would improve employer-sponsored plans, this proposal - the Universal IRA - is a way that employees of smaller businesses can choose to save for retirement by allowing their employers regularly transfer an amount from their paycheck to an IRA.

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Pursuing Universal Retirement Security Through Automatic IRAs

The Automatic 401(k): A Simple Way to Strengthen Retirement Savings