Petition Closed
7,203
Supporters

Did you know that when Congress debates tax reform, the retirement security of over 60 million Americans will be at risk?

While tax reform and deficit reduction are necessary, any proposal that reduces tax incentives for 401(k) or other workplace retirement plans could have a devastating impact on the retirement savings of millions of middle-class workers.

Tens of millions of Americans participate in these retirement plans, and 80% of them earn less than $100,000 per year. Retirement savings now represent over 65% of American families' financial assets.

The tax incentives for 401(k) plans are different than other deductions. When you take money out of the plan in retirement it will be subject to income tax. But the budget scoring system used by Congress ignores that.

Tell Congress to protect America's future by VOTING AGAINST ANY MEASURE that would reduce the tax incentives for retirement savings. Your retirement future depends on it!

Letter to
U.S. House of Representatives
U.S. Senate
I am contacting you because I am very concerned that when Congress debates tax reform, the retirement security of over 60 million Americans will be at risk. While tax reform and deficit reduction are necessary, any proposal that reduces tax incentives for 401(k) or other workplace retirement plans could have a devastating impact on the retirement savings of millions of middle-class workers.

Tens of millions of Americans participate in these retirement plans, and 80% of them earn less than $100,000 per year. According to data from the Employee Benefit Research Institute (EBRI) over 70% of workers earning from $30,000 to $50,000 participated in their employer's 401(k) plan compared to only 5% who save for retirement without a plan at work. Due to the increased use of these plans, retirement savings now represents over 65% of American families' financial assets.

The tax incentives for 401(k) plans are different than other deductions. When I take money out of the plan in retirement it will be subject to income tax. But the budget scoring system used by Congress ignores that. Please don't hurt the ability of American workers to save for retirement based on faulty budget scoring.

I am asking that you protect America's future by VOTING AGAINST ANY MEASURE that would reduce the tax incentives for retirement savings. As your constituent, I count on these plans for my future and I want to count on you to protect them. If you want more information, you can go to www.SaveMy401k.com or contact aremo@asppa.org.

Please tell your colleagues to stay away from my 401(k)!