Call to Cap 401(k) Savings by 'Wealthy' Is Contentious

President Barack Obama outlined his plans to reduce many tax deductions for those deemed to be "the wealthiest Americans" in order to fund his new spending proposals. Among the most controversial of these items, and one that's generating criticism from many in the employee benefits community, is the President's proposal to (as a White House fact sheet put it) "Prevent wealthy individuals from using loopholes to accumulate huge amounts of tax-favored retirement benefits."  Click Here to read more.