The mission of Working Group II is to increase the share of workers in the workforce who are covered by, or have access to, a retirement savings plan. To reach this goal, the Working Group took two approaches. In the first approach, the Group sought to develop incentives that would encourage employers to cover more employees and incentives for employees to save more for retirement in employer-sponsored plans where they are eligible to participate. In the second approach, the Group developed a proposal for a new national clearinghouse structure with individual accounts – the Retirement Investment Account Plan. This proposed structure is designed to provide an easy and efficient way for workers who are not covered by a plan – about half of the current work force – to save for retirement no matter where they work.
Working Group II recommendations in Covering the Uncovered.