Supporters of the recently introduced Lifetime Income Disclosure Act say that the bill will help Americans plan for a more secure retirement. But critics contend that providing the information contemplated by the bill could lead to 401(k) participants taking bigger risks than they should.
The IRS has officially confirmed that 401(k) contribution limits will remain the same for 2010.
Calls for reforming employer-provided retirement plans - in particular, 401(k) plans - are growing. While the ultimate outcome remains to be seen, it is likely that significant changes could be coming soon to a 401(k) plan near you.
While in theory it's possible that 401(k) contribution limits will decrease in 2010, it's unlikely.
A recent white paper defending employer-sponsored retirement plans could be improved by acknowledging some of the weaknesses of the system, as well as by calling on employers to not cut matching contributions.
January 5, 2010
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