There's pending legislation in the Senate to require even tiny businesses that don't already have a retirement plan to create an IRA for employees. Whether or not it will do much to help people save for their retirement in a meaningful way is debatable.

The bill, the Automatic IRA Act of 2010, introduced by Senator Jeff Bingaman (D-New Mexico) mandates that businesses establish individual IRA accounts for all employees. Contributions would come from payroll deductions, so employers wouldn't have to cough up any money themselves, and employees would be able to opt out. Accounts would be managed by banks, mutual funds, and insurance companies that already manage this type of account.