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How to fix the 401(k) and income inequality in one fell swoop A former federal official has proposed to reduce the tax benefits of 401(k) contributions to high-income workers, and to establish a universal 401(k) plan that would have features, such as low fees and automatic enrollment, to fix the retirement system. The proposed universal 401(k) plan was considered in the past, but it failed to gain support in Congress. The government could still have other options to address the problem, such as cutting the federal estate tax exemption.  --CNN Money

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