In an attempt to get ahead of the curve on tax reform, the Society for Human Resource Management is calling on its members and their networks to lobby against any significant changes to the deferred tax status of employer-provided retirement plans.
In a missive to its members, SHRM warned that politicians may attempt to gut the deferred status of such plans as part of a strategy to balance the federal budget.
Noting that employee benefits, including retirement plans, "generate the largest annual loss in revenue for the federal treasury because of their tax-deferred status," SHRM cautioned: "As a result, it is expected that public-policy efforts to reform the tax code and reduce the federal deficit will involve an examination of employer-sponsored fringe benefits, including retirement plans.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
