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Los Angeles Times
Los Angeles Times
Business
Michael Hiltzik

Michael Hiltzik: The omnibus bill will help you save for retirement, though Wall Street will get its cut

The average American's path to retirement security has long been a steep uphill climb. The omnibus spending bill President Biden signed on Dec. 29 will make the journey easier.

The $1.7-billion bill will add access to workplace retirement plans for workers who haven't had many options and increase their incentives for funding workplace accounts, including through an unprecedented tax benefit.

The omnibus bill is far from perfect; many of its positive provisions fell short of advocates' hopes and expectations.

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