$3.4 million provides $210,000 annual retirement income?

[robnplunder]

there currently isn't and there shouldn't be a limit on balances

currently there are limits to annual additions to accounts - do you think those are too high?

That was a tongue in cheek joke, "" - a dead giveaway. You want no limit on 401k (= $401000), yeah, everyone got that from your previous posts. Not everyone shares your point no matter how many times you repeat it (even against a joke).

 

[robnplunder]

Your opinion that you are entitled to but others may have a different view.

+1.

(I'd bet those who want no limit on 401k accumulation would want to government to do something about AMT limit ... )

 

[Big_Hitter]

you guys can think whatever you want, as long as you don't steal from my 401k/PSP

 

[MichaelB]

Breathe easy, folks, and relax.

 

[Big_Hitter]

 

[pb4uski]

you guys can think whatever you want, as long as you don't steal from my 401k/PSP

Not stealing at all... just restricting your contributions.

 

[Big_Hitter]

(I'm relaxed dammit!)

Technically they are considered employer contributions, even the k deferrals

but hey, at least I get to make that 6K catch up for the time being

 

[Independent]

we already have them - 415b, 415c, 402g - we don't need to be looking at balances, that's just silly - who gives a crap whether someone took a big risk and it paid off?

You quoted one sentence from my post. But, I think I covered the "need" issue in a couple other sentences that you didn't quote:

One issue is that some people have both DC and DB, and it seems that they should coordinate somehow. Earlier attempts haven't been that good.
Another is that some DC accounts have accumulated assets far about what Congress ever envisioned, and this is a bandaid to stop that from getting even "worse".

I don't actually like the word "need" here. Obviously, Congress doesn't "need" to do anything. But, I think those are decent reasons that support this proposal.

 

[Big_Hitter]

^ Earlier attempts (any of you old farts remember 415e) worked great they were just awfully complicated and thus repealed in the late 90s.

The repeal of 415e is arguably the greatest accomplishment of the Clinton administration.