To encourage individuals to save for retirement, federal tax policy provides various tax advantages for investments in self-directed accounts, such as traditional and Roth IRAs, and 401(k) plans. However, the differential tax treatment of these accounts and traditional taxable accounts can make...

Retirement saving has changed dramatically over the last two decades. There has been a shift from employer-managed defined benefit pensions to defined contribution retirement saving plans that are largely controlled by employees. In 1980, 92 percent of private retirement saving contributions...