Recently the White House Social and Behavioral Sciences Team decided to get ‘Freaky’ with Behavioral Economics and do some experiments to encourage more Active Duty Servicemembers to enroll or re-enroll in the TSP. They did some interesting experiments to try and ‘move the needle’. Continue reading →
In 2014, the federal government will forgo (emphasis mine) an estimated $17.5 billion in tax revenue from IRAs.
GAO will release a separate report with its final results on individual retirement accounts later this fall.
What prompted this study? Congress is reportedly upset about the super-sized IRA balances because (according to GAO) :
Congress limited annual contributions to IRAs to prevent the tax-favored accumulation of unduly large balances, but concerns have been raised that tax benefits accrue primarily for higher -income individuals.