American Benefits Council: Our Issues

Cover Memo to Clients

The pension and retirement savings provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) are scheduled to expire at the end of 2010 or earlier unless Congress acts. We encourage you to use the link below to let your Congressional delegation know that the retirement savings provisions of EGTRRA should be made permanent to strengthen the retirement security of your employees.

As you may know, EGTRRA permits workers to save more in employer plans and IRAs, eases portability among various plans (rollover 403(b) to 401(k), etc.), and provides significant administrative relief to employers who sponsor plans (e.g., repeal of the "same desk" rule). EGTRRA also created the Saver's Credit, which benefit low-income savers, catch-up contributions that permit older workers to save more, and Roth 401(k)/403(b) contributions which allow qualified tax-free distributions.

The Pension Protection Act of 2005 (H.R. 2830) and the Pension and Transparency Act of 2005 (S. 1783) are currently being merged by a conference committee. Contained only within H.R. 2830 is a provision that would make the retirement savings provisions of EGTRRA permanent.

Clicking on the link below will take you to a page connected to the American Benefits Council Web site. The interactive program allows you to input your or your company's zip code and pull up the names of your U.S. Representative and Senators. The easy-to-use program allows you to e-mail a letter to your Senators and Representative that requests their support for this important legislative provision (the letter can also be printed and faxed).

http://capwiz.com/appwp/issues/alert/?alertid=8520876&type=CO