12.15.25

Automatic IRA Act Reintroduced

by: Brian Anderson

U.S. Rep. Richard Neal (D-MA) has reintroduced the Automatic IRA Act of 2025, aiming to expand retirement savings access for millions of U.S. workers. The bill requires businesses with 10 or more employees that do not offer a retirement plan to automatically enroll employees in IRAs or similar automatic contribution plans, with workers able to opt out. Small employers receive a tax credit to offset costs. Provisions include converting vested balances into lifetime income solutions. The legislation targets the nearly half of U.S. workers lacking workplace retirement coverage, and is projected to create 62 million new savers and $7 trillion in additional retirement savings over 10 years.

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