Even if you don't abolish these, you could at least cap the total contribution (and even lift the annual contribution limit). A cap of $1.0 million per individual would allow for a safe withdrawal rate of approx. $40k / year (social security income would provide a further boost to that). You could move the cap higher or lower as you see fit.

There are over 150,000 individuals w/ a 401k balance over $1.0 million; there is little social benefit in providing millionaires with even more in a tax advantaged savings.

https://www.investors.com/etfs-and-funds/retirement/retireme...