The Insured Retirement Institute (IRI) voiced its support for President Donald Trump’s inclusion of tax deferrals in retirement plans in his tax reform plan.
“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,” IRI President and CEO Cathy Weatherford said in response to the April 26 White House briefing on Trump’s proposed tax reform plan by Treasury Secretary Steven Mnuchin and Director of the National Economic Council Gary Cohn.
More than 70 percent of Baby Boomers believe tax deferrals are vital when selecting a retirement investment product, Weatherford said.
“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,” Weatherford said. “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.”
The IRI is a national consumer coalition that consists of more than 30 organizations. IRI members are major insurers, asset managers, broker-dealers/distributors, and 150,000 financial professionals.