New Tax Provisions Target IRAs, 401(K)s, Roth Accounts and More
Tax-deferred savings plans are exposed to many retirement savings risks. New tax and spending packages included in President Biden’s Build Back Better agenda may end up penalizing Americans who have saved in tax-deferred retirement savings plans such as IRAs, 401(K)s and Roth accounts.
This means retirement savers can be left with less retirement income than planned due to a variety of retirement savings risks. The key risks to retirement are Longevity Risk, Tax Risk and Market Risk, but Congressional decision-making and the need to balance our budget can add Legislative Risk to the equation.
Retirement savers “could find themselves accessing their retirement funds under a completely different set of rules than they were promised when saving those funds.” Download the document below which details the impact of this Legislative Risk.
Many experts agree that Congress will need to raise additional taxes
