Beth Kaufman Weights in on Impacts of Possible House Tax Package in CNBC

Billionaire Peter Thiel and others with huge retirement account balances are in lawmakers’ crosshairs.

House Democrats unveiled a tax package on Monday that would force distributions from one’s nest egg if the value of individual retirement accounts, 401(k) plans and other retirement stashes exceed $10 million.

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“It’s not just people like Peter Thiel,” according to Beth Shapiro Kaufman, an estate planner at the law firm Caplin & Drysdale. “I see professionals who have amounts that could be into the two digits of millions, because the period of their working life was a phenomenal period in the stock market.”

However, most people should be able to live comfortably on $10 million in retirement savings, she added.

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