TITLE

Impact of Obama's retirement savings account cap proposal

PUB. DATE
June 2013
SOURCE
Benefits Selling;Jun2013, Vol. 11 Issue 6, p18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that U.S. President Barack Obama's fiscal 2014 budget proposal includes the prohibition of individuals from accumulating more than 3 million U.S. dollars in individual retirement accounts (IRAs) and 401(k) plans. If the budget gets the approval of Congress, 0.03% of the approximately 20.6 million accounts will be affected and that 1.2% of those aged 26-35 would feel the effects of the adjusted 3 million U.S. dollars cap by the time they reach age 65.
ACCESSION #
87978104

 

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