401(k)s under a Trump presidency: Could new policies usher in a new era in retirement plans?
Improving retirement security in America has been one of the things that has had wide bipartisan support recently, and now Republican control of the Presidency, House, and Senate could make passing retirement legislation easier, says retirement industry insider David Blanchett.
By Lynn Cavanaugh |
December 03, 2024 at 10:20 AM
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Photo: Eva Marie Uzcategui/Bloomberg
How will President-elect Donald Trump’s policies impact – both positive and negative – the nation’s retirement readiness?
“Regardless of changes in administration, the need for retirement solutions that work for all businesses and employees remains constant …,” said Laurie Rowley, CEO, Icon. “That said, policies aimed at equalizing 401(k) and IRA annual contribution limits would be a significant step forward in expanding retirement savings opportunities. By setting equal limits across retirement accounts, all individuals could benefit from a level playing field, enhancing retirement readiness for those without access to a 401(k).”
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