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Employee Benefits

Biden administration could change retirement planning landscape

November 18, 2020 Reprints

Changes may be coming to the retirement planning landscape as president-elect Joe Biden supports ending upfront tax breaks for contributing to traditional 401(k) plans and replacing them with flat-tax credits, the SHRM reports. There may also be an effort to create a mandated savings vehicle that employers would have to adopt so that every employee has some opportunity for tax-favored savings.

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Biden administration could change retirement planning landscape

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