The fiduciary rule and President Donald Trump’s tax reform efforts were the big topics addressed Sunday during the opening of the NAPA 401(k) Summit. But the big takeaway for employers is that tax reform may inhibit employees’ ability to save for retirement.

“There are people in Washington who do not understand the relative importance of retirement savings plans,” said American Retirement Association CEO Brian Graff, who noted that he has never seen this level of federal activity surrounding retirement issues before.

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