Wednesday, April 18, 2012

The War on Retirement Savings May Be Beginning

This article from the Washington Post indicates that Congress is beginning to eye retirement savings tax breaks (e.g. 401(k) plans, IRA plans, etc.) for possible "reform".  In other words, the $200 billion/year in tax breaks currently enjoyed by anyone who is contributing to a retirement plan may be on the chopping block.  The article is very non-specific, except for indicating that the head of the House Ways and Means Committee has scheduled hearings to look into this matter.

http://www.washingtonpost.com/business/economy/lawmakers-consider-changing-tax-breaks-on-retirement-savings/2012/04/17/gIQARfV7OT_story.html?hpid=z12&sub=AR

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