Current Tax Incentives Helping Americans Attain Financial Security during Retirement Years
WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today released the following statement from IRI President and CEO Cathy Weatherford in support of a concurrent resolution (S.Con.Res.12) introduced in the Senate this week to express the sense of the Congress that the current tax incentives for retirement savings provide important benefits to Americans to help plan for a financially secure retirement.
“The shift from defined benefit to defined contribution plans, longer life spans and the rising costs of health care are among the challenges making planning for and attaining financial security during retirement more difficult. With more of the burden of saving for retirement placed on the shoulders of Americans, now more than ever, we need to protect the incentives available that help Americans attain financial freedom and peace of mind in retirement. We are in the midst of National Retirement Planning Week®, an effort to help Americans focus on their long-term financial goals and plan for a financially secure retirement. It is only fitting that our policymakers would note the importance of these retirement saving incentives during a week dedicated to helping Americans live financially secure during their retirement years. We thank Senators Johnny Isakson (R-Ga.), Richard Blumenthal (D-Conn.), John Boozman (R-Ark.), Ben Cardin (D-Md.), Kay Hagan (D-N.C.), Chris Murphy (D-Conn.), Rob Portman (R-Ohio), and Jon Tester (D-Mont.) for their leadership on this important issue, and we look forward to continuing to work with our elected leaders to protect and preserve incentives that help Americans attain financial security during their retirement years.”
To view the text of the resolution, click HERE.
About the Insured Retirement Institute
The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry. Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: Our members are the major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI’s mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit www.IRIonline.org today to experience the vast resources of the Insured Retirement Institute for yourself.