Targeted News Service |
Americans overwhelmingly – by a margin of 4 to 1 – oppose changing tax rules for retirement savings accounts, according to a new survey released today by the
The research shows widespread support across political parties for maintaining the current tax treatment for retirement savings vehicles, such as 401(k) plans, 403(b) plans, and traditional IRAs. According to the survey, which was conducted in mid-October, 87 percent of all Americans and 95 percent of those who have a tax-deferred 401(k)-like retirement plan accounts believe retirement savings should be "off limits" to
Today's release of the survey coincides with the Coalition's launch of a national education and advocacy campaign to preserve the current tax incentives for retirement savings. The campaign will raise awareness about how current tax deferral rules are helping millions of Americans prepare for their own retirement, and will urge workers and their employers to tell
"Retirement savings incentives play an essential role in encouraging Americans to save and employers to sponsor retirement plans," said
Tax Incentives Help Americans Save for Retirement The current tax incentives have succeeded in helping Americans save for retirement and have increased the number of workers who are covered by retirement plans. According to the latest available data, more than 67 million people participate in private-sector defined contribution plans alone. All told, Americans have
All Income Levels Benefit from Retirement Plan Tax Incentives Individuals at all income levels have benefitted from these incentives, particularly middle-income earners. More than 70 percent of American workers who earn between
"Given the vast numbers of baby boomers who reach retirement age every day, retirement savings incentives are needed more than ever," said
The Coalition noted the important role employers play in helping workers prepare for retirement. Between 2000 and 2009, employers contributed almost
"Raising new revenue should not come at the expense of Americans' retirement savings, not now or in the future," said
About the Coalition to Protect Retirement
The Coalition's website www.HowAmericaSaves.com was created to raise awareness among workers, employers, policymakers, and the public about the important role that tax deferral plays in helping people plan for their own retirement security. The site provides tools for individuals and organizations to make their views known to elected officials and to stay informed about proposals being debated in
About the Survey
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