“Tax reform is a worthy goal that, if done right, could present policymakers a unique opportunity to preserve and enhance the system that’s helped millions of hardworking Americans save for retirement. On the other hand, misguided proposals could unintentionally undermine the incentive for employers to offer retirement plans or for working people to save,” said
Research shows that Americans overwhelmingly support tax incentives for retirement savings: 80% of households who have a retirement account say its positive tax treatment is a big incentive to contribute, and about 90% of households oppose both taking away the tax advantages of retirement accounts and reducing the amount individuals can contribute to retirement accounts. “
Nationwide, 75% of private sector workers are offered a workplace retirement plan and 82% of workers who are offered a workplace retirement plan choose to participate. The convenience of being able to contribute directly to a retirement plan through payroll deduction makes it easy for millions of Americans to save for retirement.
“We need to make sure people continue to have access to retirement plans,” said former Representative
Savings are an important driver of economic growth. At the end of 2016,
The membership of the
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