Now that he has become “President elect” we all must take more seriously Joe Biden’s vision of current 401k plan unfairness. It favors the rich dontcha know, and we can’t have that.
But not to worry, Biden will put everything right, especially if Democrats gain control of the Senate as appears likely shortly to ensue.
As we saw last 4 years , presidents always make promises during campaigning that they don’t keep. When it becomes an actual bill we can take a closer look. Until then it’s all speculation
One big problem is that switching retirement contributions from a pretax to a tax credit system is that you lose the state tax deductibility. There are also issues when you withdraw and pay more taxes later. I discussed some of this here.