Report calls for limits on 401(k) incentives for high earners

02/25/2013 | Bloomberg

Retirement-savings tax incentives should be reduced for top earners, a report from the Brookings Institution recommends. These individuals would save for retirement even without the incentives, and the incentives are not effective at prompting those with lower incomes to save, says Karen Dynan, author of the report. The tax benefit given to 401(k)s is projected to cost the U.S. $429 billion between 2013 and 2017.

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