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Obama’s Retirement Cap Could Hit Middle Class
President Obama wants to limit America’s retirement benefits. In his State of the Union address, Obama indicated he will include in his 2015 budget proposal in March plans to limit how much Americans can put in tax-deferred retirement plans including their company-administered 401(k)s and Individual Retirement Accounts.The limits come at a time when firms such as Fidelity say Americans are already underfunded when it comes to retirement (See MarketWatch story here). Read more…
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