Higher 401(k) contribution limits mean little to many workers

Contributing sentiments towards policy:

60% : Social Security, without staring down the road to 2034 when the program's reserves are expected to run out, doesn't fill the cost-of-living gap today even with the huge 8.7% increase in benefits for 2023.
51% : That means the generously higher limit won't help close the shortfall in retirement savings of many millions of Americans, who will likely rely more heavily on Social Security to make ends meet in old age.
43% : "This increase shines a glaring spotlight on the fact that Social Security and Medicare, the bedrock of retirement security for so many, are not sufficient to lift all older adults above poverty."

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