At the same time, every employer would have to offer some sort of plan to all workers they pay—independent contractors as well as employees. Each employer would also have to choose which plan to offer and would be responsible for forwarding contributions to a worker’s provider.
Many independent workers are young and relatively unknowledgeable on where best to put their money aside for the future, according to the study.
To protect them from being charged high fees or placed in inappropriate investments, the initial investment choice would be required by regulators to have low overall fees and be in low-cost index funds.