While the House and Senate tax bills were taking shape, lawmakers floated some changes to 401(k) contributions. A survey taken around that time shows just how perilous those changes could have been.
Three-quarters of nonretired investors in a new Wells Fargo / Gallup poll had a 401(k) plan, and a third cited tax deferral on the money they contribute as their plan’s most valued feature.
And what if their plan’s tax-deferred status were eliminated? Forty-six percent of respondents said they would save less or just stop saving, and 42% would save about the same amount.The telephone survey was conducted in early […]
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