Ultra-rich shelter millions in retirement accounts — proposed law would end it

Over 200 ultra-wealthy Americans have accumulated a combined total of more than $85 billion in tax-sheltered 401(k) and IRA retirement accounts. A proposed law aims to close this loophole and stop the super-rich from using accounts originally designed to help ordinary Americans save for retirement. The proposal has reignited debate about tax fairness and the limits of legal tax avoidance.