** Update: See a new post by William Gale, Benjamin Harris and David John on their automatic IRA proposal **
President Obama is expected to announce a new program in his State of the Union speech tonight for workers whose employers do not offer retirement plans, called “automatic IRAs,” a policy idea developed by Brookings’s Retirement Security Project, led by Senior Fellow William Gale, J. Mark Iwry (now at the Treasury Department), and David C. John (formerly of Heritage Foundation and now at AARP). They have published research and have testified on the automatic IRA. See:
New Ways to Promote Retirement Saving, William Gale, David C. John and Spencer Smith (AARP report, October 2012)
Tax Reform Options: Promoting Retirement Security, William Gale (testimony, 9/15/11)
Pursuing Universal Retirement Security Through Automatic IRAs, J. Mark. Iwry and David C. John (paper, July 2009)
Making Saving for Retirement Easier through Automatic IRAs, J. Mark. Iwry and David C. John (testimony, 6/26/08)
Iwry and John also testified to Congress in 2007.
Mingwei Ma contributed to this post.