John wrote:


The 4% (not 3% as I'd thought) is applied to their *tax*, not their
income.


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Four pecent of 7.5%?

Isn't that about one third of a percent of income?

In other words, a young worker pulling in $50,000 a year would put away
$150.00 per year toward retirement?

Better check your information. If true, tell them not to spend that
princely, compounded sum in any one place. :-)