Updated Friday, September 4, 2015 as of 8:24 AM ET

Retirement Industry Feels Both Pleased, Attacked by Obama

President Obama’s inclusion of retirement security in Tuesday night’s State of the Union Address was mostly welcomed by the benefits community, as it opens the door for employers to have a new conversation with employees about saving — but some are fearful his administration might see the 401(k) industry as a target.

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Comments (1)
What a strange and misleading statement:

"Right now, if you're making $500,000, then you can only set aside 3.5% of your income through the 401(k) system. If you're making $100,000, then you can set aside 17.5% and if you're making $50,000, and you have the wherewithal, then you can set aside 35% in the tax-deferred system. That clearly doesn't benefit the higher-paid more than the lower-paid."

Make $500k and you can contribute $17,500; make $100k contribute $17,500; and make $50k contribute $16,500.

The same amount BUT how many of the later two groups can realistically set aside the maximum amount????
What about the first group?
Posted by dana h | Thursday, January 30 2014 at 12:13AM ET
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