Tax reform initiatives put forth by both the Republicans and Democrats fail to protect retirement savings, according to Brian Graff, executive director and CEO of the American Society of Pension Professionals & Actuaries.
Graff said he is most concerned about Rep. Paul Ryan's interview this past week on Fox News in which he said he would like to eliminate or drastically reduce incentives for 401(k) plans. "This could be a disaster for small business retirement plan coverage," Graff said.
Ryan's comments were part of an overall discussion about the plan's elimination of tax incentives for higher income folks as a way to pay for lower tax rates overall.
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