“If you work hard your whole life, you ought to have every opportunity to retire with dignity and financial security,” stated President Obama in his weekly address on September 5, 2009. In the same speech, Obama announced new bold initiatives to expand the range of choices for workers who want to save for retirement.

The new initiatives will:

• Expand opportunities for automatic enrollment in 401(k) and other retirement savings plans
• Make it easier for more than 100 million families to save a portion or all of their tax refunds
• Enable workers to convert their unused vacation or other similar leave into additional retirement savings
• Help workers and their employers better understand the available options for tax-favored retirement saving through clear, easy-to-understand language.

We commend President Obama and Secretary Tim Geithner for their leadership in promoting financial security for millions of Americans who do not have access to a retirement plan at work.