Wednesday, January 17, 2007

National Association of State Retirement Administrators (NASRA) backs DC auto-enrollment

This article from Global Pensions highlights support by NASRA of automatically enrolling government employees in a supplementary DC plan.

While the National Association of State Retirement Administrators remained in staunch opposition to DC plans serving as the primary retirement benefit, auto enrollment to a supplemental plan would certainly benefit members according to NASRA Research Director Keith Brainard.

"Getting DB plan participants to also participate in a DC plan would get more of their own skin in the game, and increase their involvement in - and awareness of - the need for retirement planning and saving," said Brainard.

Various public funds across the US are considering automatic enrollment for government employees in the wake of rising pension costs.