How 401(k)s could change under Republicans’ tax plan
By Adam Shell
The big risk is if savers view the gutting of the 401(k) tax break as a disincentive to save, says Garrett Oakley, a certified financial planner and CPA at Betterment, an online investment company based in New York.
“The lack of a tax-saving incentive will lead to less savings,” Oakley believes. “We know that any barrier put in place is going to lead to a lower savings rate.”