For tens of millions of American workers, retirement planning begins with an employer-sponsored 401(k) plan. The Council urges lawmakers to avoid enacting any policies that would undermine or disrupt this system. To provide additional information on 401(k) plans, the Council has prepared a detailed fact sheet on its recent 401(k) plan survey and an update of Fast Facts on 401(k) Plans.
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.
New PBGC premium hikes 'simply unacceptable'
On December 11, the Council criticized the bipartisan budget agreement that calls for $8 billion in Pension Benefit Guaranty Corporation (PBGC) premium hikes paid by employer plan sponsors.
"It is simply unacceptable that presidential administrations and members of Congress of both parties view pension plans as a piggy bank for other budget priorities, without regard for the real-life policy implications of their actions," Council President James A. Klein said. "A simple examination of the math plainly refutes the notion that PBGC's single-employer guarantee program needs more premium revenue." Click here for the full news release.
For American Benefits Council members, we offer a regular newsletter with the latest information on legislative, regulatory and judicial developments affecting employee benefits.
- IRS Provides Temporary Relief on Frozen Plan Issue
- IRS Clarifies Administration of In-Plan Roth Conversions
- American Benefits Institute Partners with Verisight/McGladrey on Survey: Plan Sponsors Hanging In, Focusing on Costs
- Employer Shared Responsibility
- Market Reforms & Adult Child/Age-26 Coverage
- Preventive Care & Value-Based Design
- Quality Improvement & Delivery Reform
- Essential Benefits
- Tax & Revenue Issues
- Grandfathered Plans
- Claims and Appeals
- Summary of Benefits & Coverage
- Information Reporting/W2
- Health Insurance Exchanges
- State Innovation
- Medical Loss Ratio & Mini-Med Plans
- Automatic Enrollment
- Wellness Programs
- Accountable Care Organizations
- 90-Day Waiting Periods
- Automatic Enrollment
- Plan fees
- Taxation of Retirement Plans/Limits
- Funding Reform
- PBGC Deficit & Premiums
- Business Conduct Standards
- FACTA Issues
- FBAR Issues
- Puerto Rico Plans
- Non-Qualified Deferred Compensation
- Code Section 409(A), 457(A), 162(m) issues
Become a Member
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.