Does Obama Want To Cap Retirement Savings? 
That is an excellent question ! Unless you have more than $ 3 million in your annuity , you wo n't have to worry about it . -LRB- if you are , you own one or more of the .03 % of the nearly 21 million accounts that do , according to the Employee Benefit Research Institute -RRB- The idea presented in the latest budget proposal was meant to keep the super rich from being able to put huge sums into tax sheltered vehicles -LRB- Romney 's $ 100 million account was mentioned , as I recall -RRB- . President Obama is trying to narrow the gap between the haves and the have nots , by closing or narrowing the loopholes that are being used . Will he succeed ? Most likely not , since the majority of politicians are millionaires , and wo n't vote to cut their own profit generating schemes . According to the ERBI , only slightly over 1 % of Americans over 60 possess this kind of wealth , so I feel safe in saying that you wo n't have your retirement fund capped . -LRB- Even if it were to pass -RRB- Thanks for asking ! 