SACRAMENTO, CA - With the introduction Friday of the Automatic IRA Act of 2010, Congress has joined the effort to address the retirement security crisis spearheaded at the state level in California, by making retirement saving easy and automatic through payroll deduction.

SACRAMENTO- In a double victory for all Californians seeking financial security, the Assembly yesterday passed two bills that would increase access to banking services and financial education.

The two measures provide important tools for fighting foreclosures, debt, the perpetuation of poverty, and wider economic stagnation.

That is exactly what they have been doing, according to a new report, “Left on the Table,” by two professors at California State University, Fresno, which was published by the New America Foundation.

“We wanted to show that the program is not just important for relieving poverty, but that it's also important for local economies,” said Maria Sotero, a research associate for the Asset Building Program of the New America Foundation. ...

... that amounts to 800000 households losing out on 1.2 billion dollars of unclaimed tax money, according to a recent report by the New America Foundation. ...