President Barack Obama's proposed 2015 budget would be a "disaster" for 401(k) plans at small companies, according to Scott Hanson, a certified financial planner at Hanson McClain Advisors in Sacramento, Calif.

""If you work for a Fortune 500 company, odds are you have a decent 401(k) plan and Obama's budget won't have much impact on you," Hanson said on

"However, if you are like the millions of Americans who work for a small company, this budget may kill your chance for any sort of financial independence during retirement."

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