Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
November 23, 2010
No 401(k) Tax Incentives?

Tax incentives for employers to offer retirement plans to their employees would be eliminated under a plan in a draft report from the National Commission on Fiscal Responsibility and Reform, according to the American Society of Pension Professionals & Actuaries (ASPPA).

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

“As drafted, one of the options listed in the proposal would eliminate the tax incentive for employers to offer retirement plans to their employees—which ultimately hits low and moderate income workers the hardest,” said Brian H. Graff, executive director and CEO of ASPPA (

“The proposed ‘Zero Option Plan’ would decimate the savings rate by eliminating tax incentives for contributing to employer-sponsored retirement plans, such as 401(k) plans, likely triggering mass terminations of company retirement plans—directly impacting a worker’s ability to save for retirement,” he added.

“The 401(k) acts as the primary savings vehicle for most Americans and eliminating these tax incentives would strip them of critically important benefits and protections provided by the Employee Retirement Income Security Act of 1975 (ERISA),” Graff said, adding that, if the recommendations are enacted, “the retirement security of American workers will greatly suffer.”

The draft report can be downloaded by visiting and clicking on “CoChairs’ Proposal.”

Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2018 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: