Voluntary Roth 401(k) conversions could fund GOP tax cuts
Proposed tax cuts could drain U.S. Treasury coffers by over $1 trillion. But one simple shift and atax incentive could help Washington cover much of the cost – and potentially help Americanssave more. Read more at MarketWatch.
The tax reform debate in Washington has raised the notion of making changes to 401(k) retirement plans to help fund tax cuts, drawing the ire of many. Putnam Investments Chief Executive Robert Reynolds has urged Congress not to lower 401(k) contribution limits, and President Donald Trump has promised there will be “no change” to how much Americans can save tax-free for their senior years.
The conventional wisdom is that messing with retirement savings is an awful idea. However, if it could fund tax reform, why not look at doing things differently?
