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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (262881)	12/1/2005 8:00:35 PM
From: steve harris	Read Replies (1) \| Respond to of 1574214

more tax cuts for the "rich" money.cnn.com Boosting 401(k) participation: Both the Senate and House bills call for employers to automatically enroll all eligible workers in the company's 401(k) plan. Studies show that of all workers eligible to participate in their 401(k) plan, only about 70 percent do on average. Automatic enrollment, which about a fifth of large companies offer already, is expected to boost the participation rate to over 90 percent. Boosting 401(k) contributions: The House bill also provides an incentive for companies do three things: • Automatically set the employee's contribution in the first year at 3 percent of pay and increase that amount by one percentage point a year until reaching 6 percent. • Offer a 50 percent matching contribution or contribute 2 percent of pay for all employees whether they contribute or not. • Allow the employer matches to vest after two years, well below the typical five-year period. If an employee leaves a company before his matches vest, he forfeits them. And it would make permanent the increased annual contribution limits to 401(k)s and IRAs, including catch-up provisions, that are currently set to expire after 2010.