Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WASHINGTON, Sept. 15 -- The American Council of Life Insurers issued the following news release:
The American Council of Life Insurers (ACLI) today joined the American Benefits Council in a statement submitted to the Senate Finance Committee in support of the current tax treatment for employer-sponsored retirement plans. ACLI made similar comments in a joint statement with 22 trade associations.
Meanwhile, in a separate statement to the Committee, ACLI recommended ways to help Americans secure their retirements, including urging Congress to adopt S. 267, the Lifetime Income Disclosure Act and making longevity insurance more available.
The statements were submitted for the record to the Committee for its hearing, "Tax Reform Options: Promoting Retirement Security." All three statements are available below:
Download the ABC/ACLI Statement for the Record (PDF).http://www.acli.com/Newsroom/News%20Releases/Documents/ACLI_01SenateFinanceHearingTaxReformRetirementIncentives_ABCACLIStatement_091511.pdf
Download the joint trade associations statement (PDF).http://www.acli.com/Newsroom/News%20Releases/Documents/ACLI_02SenateFinanceHearingTaxReformRetirementIncentives_TradesStatement_091511.pdf
Download ACLI Statement for the Record (PDF).http://www.acli.com/Newsroom/News%20Releases/Documents/ACLI_03SenateFinanceHearingTaxReformRetirementIncentives_ACLIStatement_091511.pdf
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