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10/31/2017

PSCA Encourages Plan Sponsors to Raise Their Voices About Tax Reform

The Plan Sponsor Council of America (PSCA) encouraged its members and all plan sponsors to reach out to their legislators regarding their concerns about changes to retirement savings limits. PSCA’s recent survey of plan sponsors on the impact of tax reform, available here, found 90% are strongly or somewhat opposed the reduction of tax incentives for retirement savings.

Said PSCA Board Chair Ken Raskin, “America’s retirement savings are in the crosshairs of tax reform efforts.  PSCA has long anticipated that this bill could contain cuts to the retirement savings incentives, possibly through ‘Rothification.’ We are asking plan sponsors to please send an e-mail to their legislators and tell them that they support the existing tax incentives for retirement savings and are opposed to cuts in those incentives.”  

Plan sponsors can follow this link to the Save Our Savings website to send a pre-prepared e-mail to all three of their legislators at once: https://www.saveoursavings.org/get-involved.  

For additional commentary on the potential impact of tax reform on qualified retirement plans, visit our blog.