The ERISA Industry Committee on Tuesday advised the Senate to proceed with extreme caution when making any changes to the employer-sponsored retirement system.

ERIC, which submitted comments to the Senate Finance Committee regarding retirement tax incentives, argues that the current employer-sponsored system needs to be maintained and should be enhanced, and that steps taken by the Senate Finance Committee regarding the retirement system must be steps that promote retirement savings.

Any changes that could intentionally or unintentionally undermine Americans’ attempts or willingness to save for retirement are of great concern, according to ERIC.

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