8/16/2013 – Are We Headed to Mandatory Retirement Savings Accounts? (ThinkAdvisor)

The U.S. retirement system of Social Security supplemented by private retirement savings is often thought to be in crisis,  because of questions about the solvency of the former and the adequacy of the latter.

But the U.S. approach is not the only way — Australia and Chile, for example, have high mandatory contribution rates of 9% and 10%, respectively. And while these alternate approaches may seem remote and exotic, a piece of legislation gaining traction in the largest U.S. state may move the U.S. significantly in that direction.

Read the full article at ThinkAdvisor.