One provision could be overtly harmful to many middle-income earners: a redefinition in the "top-heavy" rule that says that when 60% of a company's retirement plan contributions are in the accounts of key employees, the company must make matching contributions of 3% to all workers with three years employment.
Not only did the size of these accounts dwindle as the stock market swooned, but many companies eliminated the matching contribution that they previously offered employees.
Gifting money towards your children's retirement accounts yields them an immediate tax deduction, tax-deferred growth and maybe a matching contribution from their employer.