How 401(k) Drives Inequality - The New York Times

How an obscure, 45-year-old tax change transformed retirement and left so many Americans out in the cold. Credit... Illustration by Tim Enthoven Supported by Send any friend a story As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share. By Michael Steinberger Michael Steinberger is a contributing writer for the magazine. He writes periodically about the economy and the markets. Jen Forbus turned 50 this year. She is in good health and says her life has only gotten better as she has grown older. Forbus resides in Lorain, Ohio, not far from Cleveland; she is single and has no children, but her parents and sisters are nearby. She works, remotely, as an editorial supervisor for an educational publishing company, a job that she loves. She is on track to pay off her mortgage in the next 10 years, and having recently made her last car payment, she is otherwise debt-free. By almost any measure, Forbus is middle class. Still, she worries about her future.

How an obscure, 45-year-old tax change transformed retirement and left so many Americans out in the cold. Credit... Illustration by Tim Enthoven Supported by Send any friend a story As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share. By Michael Steinberger Michael Steinberger is a contributing writer for the magazine. He writes periodically about the economy and the markets. Jen Forbus turned 50 this year. She is in good health and says her life has only gotten better as she has grown older. Forbus resides in Lorain, Ohio, not far from Cleveland; she