Faculty Publications

Title

President Obama's 2016 Budget Sends Mixed Messages on Retirement Planning

Document Type

Article

Publication Date

2-4-2015

Abstract

The President’s Fiscal Year Budget always entails some remarks and proposed changes with regard to retirement planning and 2016 is no different. However, what is surprising about President Obama’s Fiscal Year 2016 Budget is the lack of a cohesive position on retirement planning. For instance, the 2016 Budget includes language supporting the enhancement and protection of Social Security retirement benefits, broader retirement plan coverage, and increased savings opportunities, but at the same time takes aim at limiting savings opportunities through IRAs, Roth IRAs, and qualified plans, such as your employer-provided 401(k) plan.