As the post-election dust settles, the biggest question among retirement industry insiders is what does it all mean and how are changes in Congress and the White House going to affect how people save for their futures?
“My biggest concern as an industry professional is what may or may not come about with tax reform,” said Jason Grantz, institutional retirement consultant for Unified Trust Company, headquartered in Lexington, Ky.
One benefit to Obama remaining in office is that “we don’t have to start over with all these departments and all these policymakers. We know who our friends are. We know who is a champion of retirement issues, where they stand and we know the obstacles,” Parks said. “If we had a complete change of administration, we would have to start from scratch. From that standpoint, I believe we can make more progress in the next four years than spend a year or two getting to know everyone again. We can keep up the good momentum.”
Another big concern going into a new administration is that there will continue to be a stalemate on the biggest issues affecting the country.