Will it help Americans save more for retirement?
Perhaps, though the more immediate impact of the news Thursday from the IRS was to once more focus attention on the savings rates of workers and their "retirement readiness."
The news was certainly welcome by the industry – cost-of-living adjustments that will allow participants next year in 401(k), 403(b), 457 plans and those in the federal Thrift Savings Plan to boost their maximum annual elective deferral rate to $18,000, up from $17,500.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
