Reply to Should 401ks be phased out?

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Reply to "Should 401ks be phased out? "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]44 percent of employees have no access to a 401k.

And IRAs have lower contribution limits and no
match. [/quote]

100% of the 44% of employees that have no access to a 401k still have access to an alternative job and employer that does offer a 401k. We’re not talking indentured servants here. Everyone has a choice.

Furthermore, for those that do have immediate access to a 401k, maximum employee contributions tend to be fixed, regardless of income. Thus, the plans inherently favor the poor, LMC, and MC. These are the lucky ones able to save the recommended 20% towards retirement in a tax-sheltered account. The much less fortunate individual with an income of $325K, for instance, can barely save 7% pre-tax. If anything needs to be fixed, it is this. Everyone – regardless of income – should be permitted to save up to 20% pre-tax in a 401k or similar plan. [/quote]

Congrats on making the dumbest comment on this thread!

Where are these ~44% of jobs  open, waiting for employees to take them? [/quote]

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