“20/20” Retirement Plan Deficit Reduction Propositions

Various committees charged with studying the federal deficit have put forth preliminary ideas on how to potentially reduce it. One such group, the National Commission on Fiscal Responsibility and Reform, issued a report late in 2010 entitled, "The Moment of Truth," which, among other proposals, suggests annually capping tax-preferred contributions to retirement plans to the lower of $20,000 or 20 percent of income.

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