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Congress: Help Small Employers Offer Retirement but Fairly Allocate Its Costs

I recently wrote about a bill called "RESA" (Retirement Enhancement and Savings) quickly making its way through Congress; it would entice small employers with a tax break to offer retirement benefits to employees by allowing them to band together, acting like a larger employer that can afford to manage and pay for the administration of 401(k) and IRA plans. I applauded the idea but complained that the cost of RESA (lost tax revenue) was being loaded solely onto my kids should they inherit the plans from me, probably at their highest lifetime tax rate. The idea that they would be force-marched...

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Let’s Help Small Employers Offer 401(k)s But Not at the Expense of My Kids

It has been decades since Congress addressed retirement plans in a comprehensive way; the Left is capitalizing on that by getting states to offer defined benefit plans for low-income private sector employees. Several states including California (of course) have already passed the legislation needed to begin what will essentially become state-managed pensions for everyone. That is a bad idea worth killing by offering a better idea. The President and Congress are thinking about ways to help smaller employers band together so they can offer a retirement plan to their employees but who pays to get this done? Your kids. ...

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