Looking ahead to possible tax reform, effect on employee benefits

With Congress eyeing comprehensive tax reform, the Council is urging lawmakers to avoid disturbing the incentives that support the employer-sponsored health and retirement benefits system. For example, the Council (with ACLI and ICI) has produced a research paper demonstrating the successes of the private retirement savings system, which is made possible by smart tax policy.

  • PBGC Premium Increases Threaten Pension System

    A new report commissioned by the Council and released on June 23 by Quantria Strategies LLC, an independent research firm, confirmed that proposed Pension Benefit Guaranty Corporation (PBGC) premium increases would harm the defined benefit pension system by driving away plan sponsors that present no risk to the system.

    The report describes in detail various consequences of past and potential premium hikes. For more details, click here.

  • Council urges DOL to preserve flexibility for companies to outsource benefit plan services

    On June 18, Allison Klausner, assistant general counsel - benefits for Honeywell International Inc. and a member of the American Benefits Council's Executive Board, provided testimony on behalf of the American Benefits Council emphasizing the importance for employer plan sponsors to have flexibility in selecting outside vendors for administrative and recordkeeping services. Klausner argued that a "one-size-fits-all" regulatory approach would add additional layers of complexity to employer plan sponsorship.

    Click here for the full news release.

  • For Members: Blueprint Summary of PPACA Employer Rules

    The U.S. Treasury Department and Internal Revenue Service (IRS) recently released final regulations implementing the "Employer Shared Responsibility" provisions (commonly known as the "employer mandate" or the "pay-or-play mandate") under Section 4980H of the tax code, as added by the Patient Protection and Affordable Care Act (PPACA).

    A Benefits Blueprint summary, now available for Council members, covers in detail the key differences between the proposed and final regulations, with a focus on provisions for important transition relief.

  • Research shows critical role of 401(k) in strong U.S. retirement system

    Our Strong Retirement System: An American Success Story, a new paper developed by the American Council of Life Insurers (ACLI), American Benefits Council (the Council), and Investment Company Institute (ICI), makes clear that voluntary, employer-sponsored retirement plans provide a critical source of savings for millions of American workers at all ages and income levels.

    "Lawmakers will find evidence in this report that efforts to raise money by reducing the tax incentives for retirement plans are short-sighted and illusory-and could ultimately decrease retirement savings, especially for low-income workers," said the Council's Lynn Dudley. Click here for the news release and a two-page summary.

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The American Benefits Council's mission is to be the most effective advocate of employer-sponsored benefit programs in Washington, D.C. Our members either sponsor directly, administer or service retirement, health and stock compensation plans covering more than 100 million Americans. Click below for more information about membership.