The ERISA Industry Committee will continue to fight to keep the program
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 appreciates the Internal Revenue Service’s (IRS) recent efforts to provide guidance on the determination letter program. We are especially appreciative of the extended deadline for employers to apply for a determination letter for a new pre-approved defined contribution plan.
ERIC strongly believes the IRS should continue the determination letter program and not eliminate it, as proposed in 2015. ERIC, the only national trade association advocating exclusively for the employee benefit and compensation interests of the country’s largest employers, is concerned eliminating the program would have significant consequences for ERIC’s members and their ability to provide pension benefits in a cost-effective manner.
In 2016, ERIC will continue to work with the IRS to save the determination letter program and protect pension plans of American workers across the nation.”