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Tax the Rich -- and Limit Retirement Contributions? It Doesn't Add Up
The Principal Blog Link to more items from this source
[Opinion]
Jan. 24, 2013

"[C]urrent conventional belief supports that people should be saving 11-15% of their pay, including matching contributions, every year throughout their working careers in order to save enough to be retirement ready ... However, what about the person making $250,000 per year? Contributing a maximum of $17,500 only equates to 7% of pay. When the match is included it's still short of the target necessary for retirement readiness -- yet as the numbers show, these limitations currently in place put these people at a disadvantage for retirement savings. In addition, one of the alternatives under consideration is limiting qualified plan contributions even further."

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