Late Thursday night, as the Senate Finance Committee was nearing the end of a marathon session considering amendments to the Tax Cuts and Jobs Act by Democrat lawmakers, Sen. Ben Cardin, D-MD, offered an olive branch to the exhausted Republican chair of the panel.
Cardin had an amendment in hand to rollback a provision in the bill that eliminates extra contributions to 403(b) defined contribution retirement plans.
The version of the TCJA that passed out of the Finance Committee would scrap extra contributions to retirement plans sponsored by non-profits and government agencies.
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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.
