Any changes to taxes on your 401(k) savings won't change two key tenets of planning for retirement: Save early and save as much as possible.
That's according to retirement experts even as 401(k) plans have gotten drawn into the tax-reform debate in Washington.
Right now, workers who have access to 401(k) plans will be able to invest up to $18,500 next year, while participants age 50 and over will be able to put away $6,000 more. Under current rules, investors will not pay taxes on those contributions until a later date.
That could all change if some lawmakers have their way. Limits for pretax contributions to 401(k) plans could be lowered to $2,400 as Congress looks to make up for other tax cuts.
President Donald Trump has said he is reluctant to make changes to the popular savings program. But Rep. Kevin Brady, a top tax writer, said Wednesday that changes could still happen.