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Reply to "Should 401ks be phased out? "
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[quote=Anonymous]401k was never intended to exist. It was an accidental side effect of a loophole in a tax law Companies used it to switch to this and kill pensions. My company does a generous 8 percent. But as a place with stores and call centers. The 50k a year people people get 4k match tops. Vast majority can’t afford to put in 8 percent to get that match so most are only getting 2-3k match The 300k people do put in 8 and get a 24k match at Chase high earners get a zero percent match on the 401k as Jaimie Dimon is like you make one million a year save for your own retirement . [/quote]
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