6 pages. "Some have argued that the current tax incentive system is not the optimal structure, finding fault with a retirement savings tax exclusion that provides a tax benefit proportional to an individual's income tax bracket. They have proposed replacing it with after-tax contributions paired with a tax credit (capped at a dollar or percentage level). As detailed [in this article], the critique of the current structure is misplaced, and the new proposed tax regime would represent a disruptive change posing unwarranted risks for individuals saving for retirement. It very likely would lead to a decline in savings levels and reduced plan sponsorship by employers, both of which would have detrimental effects for the retirement prospects of American families and for our economy as a whole."  MORE >>