Today on the campaign trail in Iowa, Democratic candidate Hillary Clinton unveiled her retirement proposal to address the failing Social Security system and its affect on Americans. In her plan she proposes spending billions per year to create retirement accounts similar to 401k’s for all.
In her plan, which she calls an American Retirement Account, American’s earning under $60k would receive a dollar-for-dollar match up to $1000 per year. Those earning more than $60k per year would receive half that amount. The accounts could be established with any private provider that offers diversified investment options and has a default passively managed fund.
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