A Novel Idea to Address The Looming Retirement Crisis - AMAC & Forbes
You can only contribute a quarter of what your neighbor can for retirement because of where you work. Is that fair? Well, it’s reality for the more than 57 million U.S. workers who don’t have access to an employer-sponsored retirement account. Eric Satz, Founder and CEO of Alto Solutions, covers the striking inequities and access in this piece. He notes the Secure 2.0 Act made worthwhile strides forward, but with across the board Social Security benefit cuts looming in a decade, more must be done. Satz says, “Rather than assigning different contribution limits for each type of account, the IRS should institute a single annual retirement account contribution limit of $40,000, to be adjusted for inflation.” Full piece here.