Much has already been accomplished by the President and Congress to help Americans save more:
$50 billion in tax cuts have given Americans additional freedom to invest in their retirement security.
The death tax has been put on a path to extinction.
Substantial increases in contribution limits on IRAs and 401(k) plans have removed barriers to Americans’ ability to set money aside for their future.
The new tax law allows Americans, once they reach the age of 50, to make “catch-up” contributions to their IRAs and 401(k). This especially helps women who have taken time away from the workforce.
New tax credits are in place to help small businesses offer their employees pension plans.
The new tax law requires companies to “vest” their employees retirement rights more quickly, giving Americans ownership of their retirement assets faster than ever before.
The new tax law makes it easier for workers to roll over their retirement savings when they change jobs.