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“Presidential Candidates Weigh In With Their Views on 401(k)s”
Jerry Geisel
Workforce Management
http://www.workforce.com/section/00/article/25/85/72.php
October 21, 2008
October 22, 2008
With the economic crisis, the Presidential candidates have formulated their own ideas on financial topics that could sway voters one way or the other. One of these topics is employees’ 401(k) that has taken a hit. The two candidates, Senator Barack Obama and Senator John McCain, have different plans to improve an employees’ access to their 401(k). Senator Obama, the Democratic nominee, plans are different to the current law in regards to withdrawal. Under his proposal, a participant can withdraw 15 percent of their balance, which is up to $10,000 for any reason. Senator McCain, the Republican nominee, plans to tax distributions of up to $50,000 10 percent. –Tom Murray
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