President Obama on March 4 released a $3.9 trillion budget proposal for fiscal year 2015 that includes several retirement-related proposals that raise concerns.
The retirement “themes” are consistent with prior year budget proposals including, requiring a payroll deduction IRA for businesses that do not offer a retirement plan to their workers, allowing the PBGC to set variable rate premiums, and capping the total accumulation in individual tax-savings accounts ($3.2 million).
ERIC members and trial members can read more here.
For the President's Budget Overview, click here.
For the Treasury Department's Greenbook, click here.
For FY 2015 Budget Overview Related Documents, click here.
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