Congress is considering changing the special tax treatment of retirement savings in ways that would make it harder for many Americans to save.
While we understand today’s desire for deficit reduction, changing the rules governing your retirement plan is not the answer. Let Congress know there should be more—not fewer—incentives to save.
To convince policymakers that Americans won’t stand for legislation that makes it harder to save for their retirement, we need your voice. Learn more about the proposals here, and make your voice heard.
There are many different types of retirement savings plans. 401(k) plans through the workplace. 403(b) plans that public schools and other tax-exempt employers offer. 457(b) plans available to state and local government workers. And, of course, a variety of Individual Retirement Accounts (IRAs) and annuities. Changes currently proposed would affect the tax advantages of saving for retirement using any of these vehicles.
Eliminating tax-deferred contributions altogether
Eliminating proven incentives to save for retirement is no way to reduce the deficit. Let your representatives know that you’re opposed to any measure that would strip retirement plan contributions of their tax-deferred status.