The employer-based retirement industry is keeping a cautious eye on Congress, where lawmakers, according to The ERISA Industry Committee, are considering altering the tax-favored status of 401(k) plans as one option to pay for President Donald Trump’s proposed tax reform.
Although the Trump administration has said it wants to protect retirement accounts from tax reform, they must find money to pay for it in some way, says ERIC’s Will Hansen, senior VP of retirement and compensation policy, and the industry wants to be proactive in protecting retirement plans.
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