IRI Supports Tax Reform to Foster Economic Growth & Saving for Retirement

Posted on September 27, 2017

IRI Supports Tax Reform to Foster Economic Growth & Saving for Retirement

IRI Encourages Big Six to Preserve Retirement in Tax-Reform

WASHINGTON, DC – The Insured Retirement Institute (IRI) released the following statement from President and CEO Cathy Weatherford in response to the tax reform announcement made today by the Big Six.

“With Americans becoming more responsible for their financial security in retirement, our nation’s tax policies must do more to encourage savings and increase the options and diversity of retirement plans. This is why IRI has long supported tax policies that would foster our nation’s economic growth, remove impediments to  saving and preserve the way retirement is treated in the tax code – all of which are enormously important to families, to businesses and ultimately to the economy. Annuities, employer plans and IRAs are central to encouraging Americans to save for their retirement – with 75 to 85 percent of Boomers and Gen Xers reporting that the current way retirement is treated in the tax code is an essential reason behind their decision to save. Therefore, any tax reform legislation that is developed must continue to provide encouragement to Americans to save for their retirement during their working lives -- when income, taxes and expenses are highest. While the challenges associated with providing financial security in retirement are complicated, we must ensure that we do everything possible to protect and enhance Americans’ ability to save.”

“IRI looks forward to collaborating with President Trump and congressional leaders to encourage that the tax code protects, maintains and enhances the ability for Americans to save for retirement.”

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is the leading association for the retirement income industry.  IRI proudly leads a national consumer coalition of more than 30 organizations, and is the only association that represents the entire supply chain of insured retirement strategies.  IRI members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals.  As a not-for-profit organization, IRI provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement.  Learn more at www.irionline.org.

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For a PDF of this release, click here.
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John B Jennings