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Aaron Schumm, CEO of Vestwell, is rightfully concerned about the potential for lawmakers to limit individual 401(k) deductions as a way to raise government revenue when Americans are already not saving nearly enough for retirement.
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The statistics are staggering; only 8% of people in all working households have enough saved for retirement, given their ages and income. The median retirement savings for individuals aged 25 to 64 is shockingly low at only $3,000, and a mere $12,000 for those nearing retirement aged 55 to 64.
http://news.vestwell.com/vestwell-visits-d-c-talk-401k-tax-reform-congress/#.WjRtRLQ-dmC
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