What does Mr. Obama had to gain from this ? Let's look at the facts:

Why a retirement plan? Yes, there is a big problem in the USA on this matter, but many Americans struggle to get a job, to have a salary and in many neighborhoods this is no easy task. People go to committing crimes
just because they can not get a job, or due to various reasons or policies they will not be hired. So how can such people save a buck in the first place? And no, the percentage of this people is not negligible at all.
So are there better ways to help the Americans in the now to be able to save a buck later? Yes there are. If so, why isn't he focusing on that and blindside everyone with results ?

USA is built on debt and war . Why would Government want that it's citizens to save some money instead of recklessly spending them on things they don't need or on false nationalistic dreams? Well, either they Don't actually want that, so therefore it's just a game of switching the people's attention from something else; or it is a plan meant to fail - but why to fail? Well pouring some money in for a program and then slowly cutting it out it's a way of laundering money. Simple as that .

Also, at the moment of the speech it was a time when mr. Obama needed a boost of popularity as to increase influence into leveraging or lobby-ing for something else more important (usually personal matters) .

Either how, governments (and especially the american One), at are mostly and mainly looking out for their own profits in terms of policies and laws making, that's how they keep themselves in power after all.

Thank you .