September 5th, 2009
06:08 PM ET
5 years ago

Obama to workers: We'll help you save

WASHINGTON (CNNMoney.com) – President Obama on Saturday announced changes that the IRS plans to make to encourage workers to save more of their paychecks.

"Even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased," Obama said in his weekly radio and Internet address. "More broadly, tens of millions of families have been, for a variety of reasons, unable to put away enough money for a secure retirement. ... We cannot continue on this course."

Most of the following changes will take effect immediately because of rule changes made by the Treasury Department.

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Filed under: Economy • President Obama
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