Oh goody, yet another retirement savings program

The US Department of Labor issued a newsletter January 28, 2016 which says in part:

One out of three workers does not have access to a retirement savings plan. That’s one reason we are proposing a new program that will provide grants to states and nonprofits to test innovative, more portable approaches to providing retirement and other benefits that will help workers in an ever-changing economy.

That simply is not true. Have you heard of an IRA, or how about myRA ( I forgot, myRA is run by the Department of the Treasury) or Roth IRA because apparently the DOL hasn’t. 

Just what we need more plans, more confusion and still missing the point why people don’t save. Better check with the states DOL, they are going off in their own direction too. 

One comment

  1. People better watch out, the government has never done anything but waste money, everyone wants to get a piece of the retirement pie, in management fees. It will not end well for the average taxpayer. If people are not investing into an IRA what makes these idiots at the DOL think they will flock their way. Just another program, we do not need, funded by the taxpayer or deficit spending. What, the DOL budget is not big enough?


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