Obama Seeks to Expand 401(k) Use by Employers Pooling Plans

Updated on
  • Small businesses wouldn't have to be related to pool accounts
  • President wants $100 million to test more portable accounts

President Barack Obama waves to the press as walks to board Marine One at the White House in Washington on Jan. 25, 2016.

President Barack Obama will propose allowing small businesses to more easily pool 401(k) plans, in the hope that more Americans will adopt a crucial tool to save for retirement.

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