The American Society of Pension Professionals & Actuaries recently launched a campaign, called Save My 401(k), which intends to defend retirement plans from congressional budget cuts that could come from the ongoing “fiscal cliff” negotiations or plans for reforms to the tax code in 2013.
“The single most important factor in determining if a worker is saving for retirement is whether or not there is a plan at work,” says Brian Graff, executive director and CEO of ASPPA. “Last time Congress took up tax reform in 1986, employees’ 401(k) plans were cut by 70%, resulting in a mass termination of plans.
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