In reaction to the U.S. Senate Committee on Finance’s tax reform hearing concerning retirement security, the American Benefits Council and the American Council of Life Insurers say employer-sponsored defined contribution and defined benefit retirement plans are essential elements to the U.S.’s retirement system. 

In fact, ABC and ACLI have successfully helped millions of families acquire retirement savings that will provide trillions of dollars in retirement income using these plans. Employer-sponsored retirement plans play a large role in personal financial security as well as creating savings to encourage the type of capital investment the economy needs for long-term growth.

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