Boots & Sabers

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1041, 01 Sep 18

Trump Signs Changes to Retirement Rules

Not that you need another example, but do you want to see an example of how rampant the media bias is? Check out this story from ABC News. Headline: “Trump signs retirement savings executive order in Charlotte.”

OK, that sounds important. Let’s read the story. Here’s how is starts:

President Donald Trump signed an executive order Friday in Charlotte, North Carolina, that would make it easier for small businesses to band together in associations to provide affordable retirement savings plans.

“Today’s historic action will provide new retirement security to countless American workers and their families. We believe all Americans should be able to retire with the confidence, dignity and economic security that you want,” Trump said.

That’s it. The remaining 17 paragraphs of the story are about unrelated things like comments from Trump, what he didn’t say about McCain at the event, stuff about federal pay wages, and on and on and on.

As someone who plans to retire someday, I actually clicked on the story in hopes of learning about what the executive order was about. How will it affect me? Do I need to make adjustments to my retirement plans?

ABC News didn’t think those details were important. Instead, they thought it was more important to report on stuff that Trump said, hinted, should have said, didn’t say, or whatever.

Well, if you’re curious, here are some details about the executive order that the President signed… and it’s pretty spectacular. The details will have to be finalized the requisite federal agencies, but the changes will give far greater access to tax-advantaged retirement plans to workers – particularly those who work for small businesses. It will also allow retirees to keep their money in their retirement plans for longer instead of being forced to withdraw it before they need it.



1041, 01 September 2018


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