According to the Pension Rights Center only 54 percent of all civilian workers participated in a workplace retirement plan. Further, the median account balance for all workers was only $15,000. Congress, cognizant of the need to increase participation in workplace plans, eased the rules for multiple-employer plans, enhanced plan safe harbor opportunities, and made other improvements.
Author:Thomas F. Commito, JD, LLM, CLU, ChFC, AEP,is director, sales concepts in Lincoln Financial Distributors’ Advanced Sales Group and is an associate editor of the Journal. He has 40 years’ experience in advanced sales, life insurance products, and life insurance marketing. Tom is an author of two books and numerous articles on tax and financial planning.
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