IRI Applauds President Trump for Recognizing the Importance of Tax Deferrals to Retirement Savings

IRI Applauds President Trump for Recognizing the Importance of Tax Deferrals to Retirement Savings
With a retirement crisis looming for all generations, this is an important step toward a more secure financial future for all Americans

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today issued a statement from IRI President and CEO Cathy Weatherford in response to the April 26, 2017, White House briefing on President Trump’s proposed tax reform plan by Secretary of the Treasury Steven Mnuchin and Director of the National Economic Council Gary Cohn. 

“At a time when 77 percent of Baby Boomers head into retirement lacking confidence in their retirement savings, IRI applauds President Trump for recognizing the importance of tax deferrals in retirement savings. Research has shown that more than 70 percent of Baby Boomers believe tax deferrals are vital when selecting a retirement investment product and by delaying taxation of retirement accounts, people save more. In conjunction with individual benefits, the current tax treatment plays a key role in producing $25 trillion in retirement assets, accounting for 34 percent of all household assets in the United States.

IRI sent letters to the Administration and Members of Congress urging the enactment of policies which will enhance retirement savings through tax reform and spur economic growth. IRI appreciates this opportunity to continue collaborating with the Trump Administration and educating Members of Congress on the beneficial changes as outlined in our 2017 Retirement Security Blueprint. Working together, we can ensure that Americans have the secure and dignified retirement they deserve.”

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 version of this release, please click here.
Contact: John B Jennings