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Donald Trump Proposes New Retirement Accounts for Workers Without 401(k) Plans

The proposal seeks to expand retirement savings options for employees lacking access to traditional employer-sponsored 401(k) programs.

Summary

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Terms & Concepts
  • 401(k): A U.S. employer-sponsored retirement savings plan allowing employees to invest pre-tax income for future withdrawal.
  • retirement account: A financial account designed to help individuals save and invest funds for post-retirement needs.