The Fiscal Cliff: How It Could Affect Your Retirement
As lawmakers struggle to come to a consensus about the federal budget, concessions are being thrown around Capitol Hill in an effort to strike a deal. One of the many compromises being discussed are major changes to the federal tax code. Just how much of the tax code could be changed is unclear; however, several organizations aren’t just waiting around to hear about what Congress cooks up- they want in on the action. The American Society of Pension Professionals and Actuaries is leading a program to defend against any changes to tax incentives for employer-sponsored retirement programs.
Changing Tax Incentives on Retirement
The ASPPA is leading the Save My 401k Campaign to make sure that the message about keeping the tax incentives in tact is loud and clear. Although most experts don’t foresee tax reform to be addressed until after a budget deal is struck, this Web-based, social media campaign has many supporters, including other organizations, such as the National Association of Plan Advisors, the Council of Independent 401k Recordkeepers and the ASPPA College of Pension Actuaries.
Are you worried about what may happen if Congress does away with tax incentives for employers to support retirement programs?
Do you have a Plan B? Call us at 1-855-60-iPLAN (1-855-604-7526)Â to find out about your other savings options.