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Are 401(k) catch-up contributions only used by the affluent?

Amendments added to, then cut from the Senate tax bill having to do with 401(k)s raise the question: Are catch-up contributions used only by wealthy savers?

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Amendments added to, then cut from the Senate tax bill having to do with 401(k)s raise the question: Are catch-up contributions used only by wealthy savers? (Photo: Shutterstock)

Do the tax-deferred extra contributions 401(k) participants make after the age of 50 amount to a tax shelter for wealthy Americans?

The answer to that may depend on the definition of affluent.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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