How Automatic Enrollment in 401(k)s Could Reshape Saving for Retirement

The SECURE Act 2.0 could require employers to automatically enroll eligible workers in retirement plans. If the legislation passes, there could be pros and cons to this change.

401k money jar on the desk of a businesswoman.
(Image credit: Getty Images)

There soon could be a tool that pushes more Americans to enroll in 401(k)s.

In early May, Reps. Richard Neal, D-Mass., and Kevin Brady, R-Texas, introduced the Securing a Strong Retirement Act of 2021, which aims to boost retirement savings and builds upon changes implemented under the Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act.

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Editorial Intern, Kiplinger.com