ERIC Applauds Efforts of U.S. Senate Tax Reform Working Group

For Immediate Release

Washington, DC – The ERISA Industry Committee (ERIC), representatives of the employee benefit and compensation interests of the country’s largest employers, agreed today with the objectives of the bipartisan U.S. Senate Committee on Finance’s Savings & Investment Working Group to reform the nation’s tax system. 

“We are glad to see the Working Group’s focus on three key goals: increasing access to tax deferred retirements savings; increasing participation levels of savings; and, discouraging income removal (leakage),” said ERIC’s President and CEO Annette Guarisco Fildes. “The members of ERIC, large employers that sponsor employee benefit plans for workers, retirees and their families, see the voluntary private employer-provided retirement system as successful in delivering retirement benefits.  We look forward to working with the Congress to continue to improve the system.” 

ERIC has supported legislative initiatives in this regard, specifically S. 606 the “Shrinking Emergency Account Losses Act” (“SEAL Act”), sponsored by Senators Nelson and Enzi, which amends the Internal Revenue Code of 1986 to modify the rules relating to loans made from a qualified employer plan, and for other purposes. 

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All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About the ERISA Industry Committee
ERIC is the only national association that advocates exclusively for large employer plan sponsors on health, retirement, compensation, and paid leave public policies at the federal, state, and local levels. With member companies that are leaders in every sector of the economy, ERIC promotes uniformity and flexibility for nationwide benefit plans.