Can Americans Retire? (Part II)

In part one of my interview with National Institute on Retirement Security Director Diane Oakley, I mentioned that the Obama administration is endorsing an automatic IRA. The plan would mandate employers who do not already offer savings plans to provide a government-approved private alternative, with automatic enrollment.

This is in many ways similar to the Affordable Care Act, also proposed in part by the conservative Heritage Foundation, and is a compromise from a more government-involved and subsidized proposal from the Clinton era. It’s now mostly opposed by conservatives and industry groups.

Can Americans Retire?

Union support for pensions is broad, but defined benefit plans don’t have a lot of other organizational defenders. I wanted to learn more on the organization’s perspective, so I chatted with Diane Oakley, NIRS’ executive director.