“The basic gist is that businesses with 10 or more employees would be required to start funding a new form of individual retirement account. While businesses that already have retirement plans would be exempt, it’s estimated the legislation would affect about 40 percent of the U.S. workforce.  Employees would be automatically enrolled.  What kind of investment choices would be offered?  That’s not clear yet, though Mr. John — the initial creator — has said:  ‘There could be an R-Bond account at Treasury for first-time savers, but that money would be rolled into private sector accounts once the individual accounts reached a certain size.'”

http://www.moneyandmarkets.com/get-ready-for-washingtons-automatic-iras-51424

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