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POLITICO @politico
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(1/10) Obama took one big shot at solving American retirement. But the program died an early death, and the crisis lives on. politico.com/agenda/story/2…
(2/10) Millions of Americans are unprepared for retirement, and the problem is only getting worse politico.com/agenda/story/2…
(3/10) In January 2014 Obama announced his plan: MyRA would create risk-free, government-issued retirement savings accounts politico.com/agenda/story/2…
(4/10) The program lived less than two years and was pretty much a dud. When the Trump administration shut it down, just 30,000 people had started accounts and ⅓ of them had a balance of $0 politico.com/agenda/story/2…
(5/10) Since the program was voluntary, Obama officials thought it could survive a future Republican administration. They were wrong. politico.com/agenda/story/2…
(6/10) But the idea might have sparked something. Five states are trying to launch programs similar to Obama’s myRA politico.com/agenda/story/2…
(7/10) Oregon is running a controversial experiment to see whether Americans would finally save for retirement if they were automatically enrolled in a program that took money out of their paycheck and placed it in a savings account politico.com/agenda/story/2…
(8/10) California, Connecticut, Illinois and Maryland are close behind. They’ve also established state-run auto-IRA programs, which will launch over the next few years. politico.com/agenda/story/2…
(9/10) There’s a lot of pushback from Republicans, and there are some lingering legal questions, but people are excited about the idea of getting young people to save – and what that will mean for the economy at large politico.com/agenda/story/2…
(10/10) P.S. This is part of our series on the future of prosperity in America. Read more about how today’s young adults are falling behind: politi.co/2sGb0aY Or check out all of the stories → politi.co/2Jmxe8k
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