Larry Fink recently called for mandated retirement savings and now Robert Reynolds, president and chief executive of
], is raising the issue again.
As quoted by InvestmentNews
reporter Mark Scheoff Jr., Reynolds said the U.S. should go "full-auto, auto-enrollment, auto-re-enrollment annually, auto-escalation to higher deferrals plus automatic default to qualified target date or balanced funds…" in a speech at the National Press Club.
It's a statement Reynolds has made throughout the years, Scheoff writes. The question is, will his statements hit home in Washington? Scheoff reports that a mandate faces strong opposition from Republicans, who aren't eager to ask anything of business owners after the passage of Obamacare.
Reynolds recently launched a think tank, the Putnam Institute to study retirement issues, and make an impact on the conversation on 401(k)s, presumably in the media and in DC.
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