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401(k) phenomenon

Federal budget hawks eyeing tax incentives for 401(k)s should take note: low-wage workers get a better deal out of these plans than what was previously thought.

By Jenny Ivy | Updated on January 12, 2012

Federal budget hawks eyeing tax incentives for 401(k)s should take note: low-wage workers get a better deal out of these plans than what was previously thought.

It’s estimated revenue loss associated with contributions to IRAs and 401(k)s will exceed $1 trillion over the next decade. Tax reformists have been looking for ways to justify scaling back incentives and have often cited a plan flaw that results in middle- and lower-income earners getting the short end of the tax stick.

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