NEWS ADVISORY

December 7, 2012
PR-12/22
For additional information:
Jason Hammersla
office 202-289-6700 / cell 202-422-4652

Media briefing conference call: release of survey results showing employer reaction to taxation of 401k plans

Council urges Congress not to erode retirement savings

WHO: James A. Klein, president, American Benefits Council, and other Council
Lynn Dudley, senior vice president, policy, American Benefits Council
Mathew Greenwald, president, Matthew Greenwald & Associates, Inc.
WHAT: In a media briefing conference call on December 11 at 10 a.m. Eastern Time, the American Benefits Council will release the results of a survey, conducted by Mathew Greenwald & Associates, Inc., revealing the attitudes of more than 500 employers toward possible changes in the tax treatment of 401(k) plans.

The results clearly indicate that such changes — specifically, the “20-20” proposal, the refundable tax credit proposal and the 28 percent tax deduction limitation proposal — would likely have a significant impact on employers’ willingness to sponsor retirement plans and employees’ ability to save.

“Workplace retirement savings plans, like 401(k)s, are essential for employee recruitment and retention, for ensuring workers’ long-term financial security, and for the economy as a whole,” said Klein. “We understand Congress faces tough choices in light of mounting debt and the fiscal cliff, but unraveling the nation’s most popular and successful retirement program could have unintended, harmful consequences for future retirement security.”

An embargoed copy of the survey will be sent on Monday to everyone who registers (see below).

WHERE: This briefing will be held by conference call only.
Dial in number: 877-317-5127
No password needed; ask operator for “American Benefits Council media briefing”

Please RSVP here
WHEN: Tuesday, December 11, 2012, 10 a.m. Eastern Time. A recording will be made available upon request.
CONTACT: For other queries, or to schedule an individual interview with Council staff, contact Jason Hammersla at jhammersla@abcstaff.org or by phone at 202-289-6700.

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The American Benefits Council is the national trade association for companies concerned about federal legislation and regulations affecting all aspects of the employee benefits system. The Council’s members represent the entire spectrum of the private employee benefits community and either sponsor directly or administer retirement and health plans covering more than 100 million Americans.