busdriver12

That's what it implies in the bold print, but when you read the fine print, it is far more odious. The maximum would be what would pay out a 210K annuity at age 62 (as apparently, who needs more than that?), at current annuity rates, would be accounts worth approx. 3.4 million. However, it is a soft target, changing every year. Annuity rates go up, the max allowed retirement account can go way down. If they adjust it for age, as implied, the amount could be tiny for people in their twenties.

This is also ALL retirement accounts, including Roth, 401K, IRA, company. And it is all your SPOUSES retirement accounts, combined with yours. Apparently they think all marriages will last forever, and all people will grow old in retirement together.

I don't have a huge problem with limiting tax preferred accounts. However, this is very complicated, and has a ton of potentially ugly surprises. Like losing your B plan contribution if you and your spouse combined have too much money in retirement accounts.

And yes, I suspect that combined, we will have that amount within the next few years unless the market tanks. There are many people who will, if two people make a good income and they've been investing for decades.