Preserving the Employer-Provided Retirement System

SIFMA and 21 other members of the Retirement Savings Network (RSN), including SIFMA, provide comments to members of the Senate Finance Committee urging the Senators to preserve the current tax treatment of the employer-provided retirement system. The letter explains that a change in the tax treatment and/or lowering contribution levels will result in lower retirement savings and fewer workers being offered retirement plans by their employers. The letter also outlines the key advantage these plans offer workers and the important role retirement plans play in the capital markets.

The groups that co-signed the letter with SIFMA are: American Bankers Association, American Benefits Council, American

Council of Life Insurers, American Society of Pension Professionals &

Actuaries, the Committee of Annuity Insurers, The Committee on Investment of

Employee Benefit Assets (CIEBA), The ERISA Industry Committee, The ESOP

Association, Financial Executives International, Financial Services Institute,

Inc., The Financial Services Roundtable, Investment Adviser Association,

Investment Company Institute, Insured Retirement Institute, National

Association of Insurance and Financial Advisors, National Association of

Government Defined Contribution Administrators, Plan Sponsor Council of

America, Retirement Industry Trust Association, Society for Human Resource

Management, Small Business Council of America (SBCA), and The Spark Institute.