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To shore up Social Security, this controversial proposal calls for limiting retirement plan tax perks

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Tax incentives to save in work retirement plans reduce federal tax revenue and don't meanfully change saving behavior, economists argue.

Limiting those perks can free up funds to shore up Soc Social Security hey argue.

But the plan has plenty of critics, including one economist wh Social Security's te of money.

401(k)s have an advantage because the the next decade by an employer, who picks a plan provider and default inv the Center for Retirement Research inc Boston College e not as popular as 401(ks) plans.

401(K)s encourage participation through automatic enrollment, which tends to have a bigger effect than the tax incentives. Andrew Biggs ummaryFeed_highLightT the American Enterprise Institute lass="summaryFeed_highLightTe Alicia Munnell (k)s < the Center for Retirement Research ext__NxlGi">401(k)s Biggs s="su Munnell ed_highLightTex Michael Wicklein /span> the Federal Reserve Bank lGi">Munnell This White House Star Magazine Social Security class 2024 mmaryFeed_highLightText__NxlGi">Clinton Treasury 69,000 n cl 2024 "summaryFeed_highLight 50 xt__NxlGi">the 1990s 7,500 ss="summaryFeed_highLightText__NxlGi">Munnell 23,000 n clas 30,500 maryFeed_highLightT 50 t__NxlGi">first more than 750,000 Munnell Congress up to $7,000 xlGi">Social Security < 8,000 class="summ 50 yFeed_highLightText__NxlGi">Biggs each year highL 2020 Text__NxlGi">SSAB about $185 billion to $189 billion ty Advisory Board about 0.9% d_highLightText__NxlGi">Biggs U.S. ate Social Securit CRR span> Social Security's lGi">Munnell the early to mid-2030s her Biggs Munnell Munnell Social Security's eed_highLightText__NxlGi">decades two Munnell Biggs Fichtner Biggs t_ Biggs i">40 Munnell span> January ighLightText__NxlGi">the Mercatus Center the Bipartisan Policy Center Jason Fichtner