MEMO TO CONGRESS: WE NEED LIMIT INCREASES NOW; BABY BOOMERS NEED A WAY TO PAY FOR THEIR RETIREMENT.(Statistical Data Included)

Pensions & Investments, September, 1999 by Barry, Michael P.

Humbly submitted: The increases in qualified plan benefit and contribution limits contained in the current tax bill make it the most important piece of employee benefits legislation in the past 17 years. The biggest retirement challenge that is facing us today is how the baby-boom generation -- which is much larger than the generations preceding and following it -- is going to be able to finance its own retirement.

For typical members of this generation, there were no 401(k) plans in the first part of their careers. And in the last part of their careers, there will be no traditional defined benefit plans. The only way baby-boomers are going to be able to finance their retirement is by saving significant amounts of money right now. The increases in tax...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.