Only 45% of workers participate in employer-sponsored retirement plans, Bloomberg Businessweek reports. That's why a handful of states like Oregon are launching programs that automatically enroll workers in a plan that diverts 5% of their earnings into an individual retirement account. Employees can opt out of the plan, or adjust their contribution.
Why it matters
: Social Security
on average just $1,369 per month, making self-directed savings necessary for seniors to enjoy a middle class standard of living. But most workers don't save and many have no access to employer sponsored plan.