Sep 22, 2015
It should come as no surprise that President Obama is no fan of tax-neutral, defined contribution savings plans.
After all, this is the same president who secretly tried to destroy the 529 college savings plan for the middle class back in January 2015. His budget routinely calls for a lifetime accumulation cap on 401(k) plans.
Now Obama's own Department of Labor is pushing a series of new regulations that will have the effect of shutting out newer investors and younger investors from the world of IRAs.