Automatic-enrollment IRAs get a test run in California

Both political parties, despite their shared animosity, can agree that Social Security does not provide enough money to be the sole income for the retired and many Americans do not save enough to supplement the program on their own. The Obama Administration has long backed a proposal for automatically enrolling employees in individual retirement accounts. For companies with more than 10 employees that do not provide private retirement plans, 3 percent of a worker's paycheck would be automatically sent to a retirement fund. A worker has the choice to opt out rather than opt in. California, using the Obama proposal as a model, has adopted legislation which will be enacted in 2015. The concept, however, does have its detractors.

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