News & Information

 

FEATURED PRODUCT

5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.

Learn More »

CCH® PENSION — 03/8/12

Congressional resolution to retain retirement tax incentives draws bipartisan support

A congressional resolution expressing support for existing tax incentives for the employer-based retirement system, introduced by Rep. Jim Gerlach (R-PA) and Rep. Richard E. Neal (D-MA), has received bipartisan support on Capitol Hill.

The resolution expresses the "sense of Congress" that "tax incentives play an important role in encouraging employers to sponsor and maintain retirement plans and encouraging participants to contribute to such plans" and that "a reformed and simplified tax code should include properly structured tax incentives to maintain and contribute to such plans."

The American Society of Pension Professionals & Actuaries issued a statement of support for the resolution. "ASPPA applauds the more than 100 Members of Congress from both sides of the aisle who have voiced their support for the employer-based retirement system," said Brian H. Graff, CEO and executive director of ASPPA.

"As Congress considers ways to reform and simplify the tax code, we are pleased that these Members recognize the critical role tax incentives play in helping American workers achieve a secure retirement," Graff added.

Source: House Concurrent Resolution, introduced by Reps. Gerlach and Neal, February 16, 2012; ASPPA press release, February 16, 2012.

For more information, visit http://www.wolterskluwerlb.com/rbcs.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

Visit our News Library to read more news stories.