In an open letter to US lawmakers, State Street Global Advisors, the Boston investment giant, urges Congress to take steps such as requiring private employers to automatically enroll employees in 401(k)-type savings plans. They would also need to provide certain basic, default investments, such as target-date funds that own a mix of stock and bond funds, based on a person’s age and risk appetite.
Click here to view the full story by Beth Healy at www.bostonglobe.com