Who Wins, Who Loses With Auto Retirement Savings Plan Proposal

Legislation that would require most U.S. businesses to offer their workers basic retirement benefits could add a new generation of first-time savers to the economy while forcing millions of small employers to navigate the costly world of benefits on their own.

The House Ways and Means Committee’s bill, part of a $3.5 trillion tax-and-spend plan Democrats are developing, has drawn a clear line in the benefits industry between companies that would stand to gain and those that could lose money. Straddling that fence are more than 62 million workers who still aren’t saving for retirement.

Data from Pew suggests that ...