There are rumblings in Whoville that the next round of budgetnegotiations will take a huge bite out of retirement plans. Thatpoliticians would even consider halting the tax-deferred status fora quick shot of tax revenue shows how incredibly short-sighted theyare. Of all their socking it to the grandkids via their addictionto ever-increasing deficits and borrowing, tax-deferred retirementvehicles are the only gift they're giving those same grandkids.
Not too long ago, FiduciaryNews.com authored a members-onlywhite paper called “Slaying the Myth of the 401k Tax AdvantageMyth.” At first, you might think the double use of the word “myth”to be a typo, but it's not.
Perhaps spurred by the negative press regarding 401(k) plans,there's been a growing feeling among some seasoned professionalsthat the 401(k) plan has outlived its usefulness. The 401(k) planwas created when marginal tax rates were much higher than they aretoday.
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