Plan sponsors are overwhelmingly against a tax reform package that would eliminate or reduce the tax-preferential treatment of defined contribution retirement plans.
In a survey conducted by the Plan Sponsor Council of America, a non-profit trade group that represents the interests of employer sponsors of workplace retirement plans, nearly 95 percent of 443 surveyed sponsors strongly or somewhat agree that eliminating or reducing pre-tax contributions to 401(k) plans would be a “bad idea.”
Early vows by the Trump administration to make tax reform a top priority have led to speculation that the tax treatment of workplace retirement and health care plans are negotiable as a way to pay for significant reductions in individual and corporate tax rates.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
