Daily Market Updates: Proposed rule would limit tax-sheltered retirement accounts for wealthy

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Proposed rule would limit tax-sheltered retirement accounts for wealthy

MarketWatch reports more than 200 people hold over $85 billion in tax-sheltered retirement accounts that the proposal targets.

Reported · Written up by our desk · Fund Industry

A proposed change aimed at high earners would narrow the ability to use 401(k)s and IRAs to shelter taxes, according to MarketWatch.

The outlet reports that more than 200 individuals hold a combined total of more than $85 billion in tax-sheltered retirement accounts, which the proposal seeks to restrict.

MarketWatch says the plan would cut off some of the tax advantages these accounts provide to the wealthiest savers.

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Sources

MarketWatchThe super rich use 401(k)s and IRAs to sidestep taxes on millions of dollars. This proposed law would cut them off.

ETFs & Funds

Proposed rule would limit tax-sheltered retirement accounts for wealthy

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Sources

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