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inparadise posts,

The fear is that many of those who will be affected by this are the ones setting up the 401K for their small company employees, and of course, themselves. If it is not attractive to them, they may not want to go through the hassle of setting that option up and the scrutiny that will be applied to the 401K, which leaves their employees with much less opportunity to save for retirement.

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That's what the MyRA is for. Lower salaried workers shouldn't have to depend on the retirement whims of their employer.

http://money.cnn.com/2014/01/29/retirement/myra-accounts/

Also, there's no evidence that tax breaks encourage very many people to save for retirement. The tax break doesn't amount to much for a low salaried worker. And most high salaried workers are going to save whatever is required to fund their desired lifestyle in retirement whether they get a tax break to do it or not.

intercst
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