Protecting Low-Income Families' Savings

Jun 01, 2005

How Retirement Accounts Are Treated in Means-Tested Programs And Steps to Remove Barriers to Retirement Saving.

The eligibility rules for certain means-tested programs like Food Stamps and Medicaid often discourage saving for retirement by people who are potentially otherwise eligible for and may need these programs. By excluding 401(k) and IRA savings from these asset tests, we would increase the likelihood that lower-income earners will save for retirement. Those who do the right thing by saving should not be excluded from programs that help so many Americans make it through hard times.

Pew is no longer active in this line of work, but for more information visit the Retirement Security Project on 

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