|Most people won't look like this in retirement.|
Here are a few suggestions I have for reform in this area. They focus on equity. I submitted these to the Senate Finance Committee in April 2015 when they were seeking ideas for tax reform via their working group project. I'll likely submit them again and add more on simplification. One overall reform I recommend is to change the focus of retirement plans from the employer to the employee, making them truly portable from job to job and if in employee or contractor status or both.
Bring greater equity to retirement savings rules and better enable young people to save for retirement. Possible approaches include:
What do you think? What would help all individuals better save for retirement?