State-Run Retirement Plans Made Easier Under New Obama Rules
- One-third of U.S. workers currently have no access to plans
- Rules may put more pressure on retirement-account fees
President Barack Obama steps off Air Force One at Andrews Air Force Base in Maryland on Aug. 23, 2016.
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States and large cities can more easily establish their own retirement programs for private-sector workers under new rules the Obama administration announced Thursday, which are aimed at expanding the number of Americans with access to tax-advantaged savings accounts.
The rules may also apply new pressure on financial advisers to lower their fees.