Tax-protected retirement savings might be trimmed in deficit deal

11/12/2012 | BenefitsPro.com

The amount of money people can set aside tax-free in retirement plans could be scaled back under a deal to trim the deficit and raise tax revenues, financial advisers fear. "The real question is what changes? How will the players change their behavior and that is an unknown. For retirement plans it is all about tax reform and whether they'll nick us or not," said Ed Ferrigno, vice president of Washington affairs for the Plan Sponsor Council of America.

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