Political Quotes

“as we continue debating the future of Social Security, it is important to remember for more Americans they cannot save enough for their retirement. In fact, over half of all Americans do not participate in employer- sponsored retirement plans, and for 28 million households in America they have no other retirement security outside of Social Security. For America's families retirements are less, not more secure. United Airline employees last week learned that painful lesson. For that reason it is crucial that we strengthen, not weaken, Social Security, as well as enable more Americans to save for their retirement. Specifically, step one, we should encourage companies to automatically enroll their employees in their 401(k) plans. At R.R. Donnelley, a Chicago company, auto enrollment dramatically increased 401(k) participation when they did automatic participation, up to 92 percent. Second, we should make the Saver's Credit fully refundable and permanent. A recent H&R Block study shows, when offered a matching contribution, Americans save more. Third, we should allow taxpayers to directly deposit their tax refund into a savings account. And, fourth, finally, we should create universal 401(k)s for all Americans to consolidate the different savings plans that exist. ____________________”