Employer Sponsored PTO = 401(k) Savings

This evening I happened across an interesting article on CNN.com about Obama's push for more personal savings among American's.  He speaks about retirement plan auto enrollment as well as issuing your tax refund as a savings bond. Interesting.

What caught my eye, however, was the idea of being able to turn your unused Paid Time Off into 401(k) contributions.  As someone who saves rather than splurges on vacations and long weekends, I would find this very advantageous to have as an option.

Employers, don't be too concerned, if you currently run a 'use it or lose it' type program, you will not be required to allow employees to convert their unused PTO into 401(k) contributions.