For Immediate Release
Washington, DC – The following statement should be attributed to Annette Guarisco Fildes, President and CEO, The ERISA Industry Committee (ERIC):
“The ERISA Industry Committee (ERIC) is pleased that the Republican’s Senate tax reform plan protects the pre-tax contribution limit employees can contribute to their 401(k) plans and we will continue to advocate against any decrease in the incentive to save for retirement on a pre-tax basis.
ERIC believes in helping working Americans save for retirement. One of the primary reasons individuals contribute to their retirement plans is the ability to defer their tax payment. A move to Rothification would have decreased the incentive for employees to save and upset decades of work by employers to improve retirement security and financial wellbeing.
ERIC promises to work with Congress throughout the tax reform legislative process to ensure any changes included in the final legislation have a positive impact on the ability for Americans to save for retirement.”