A lot of people are raising a family when they are young and can’t save a lot. The catch up provision helps people that can finally afford to save more during their last working years.
Understood. I’m not saying the catch-up provision is a bad idea. I’m just pointing out that a modification of this provision is hardly a draconian overhaul of the 401(k) rules, when you consider that it didn’t even exist until a few years ago.