Limiting 401(k) contributions is ‘an enormous budget gimmick’ says think tank

2017-10-30T18:02:36-07:00October 30th, 2017|Categories: 401(k)|Tags: |

When benefits adviser Ted Benna thought up a new type of employee savings plan in 1980, the client he created it for rejected the idea as too risky. After all, no one had previously used the unremarkable section of the tax code called 401(k) to defer paying taxes on money that rank-and-file workers set aside for retirement. So Benna decided to try it out at his own workplace, Johnson Cos., a small consulting firm outside Philadelphia. Without intending to, [...]