More Shoes To Drop?

So far I’ve avoided posting anything about tax reform as I’m sure you’ve been bombarded about the details as much as I have; however, Pensions and Investments just published an article highlighting an area of possible impact that had not been high on my radar screen. Below is an excerpt:

Groups representing the retirement industry expect that Congress’ attempt at the first major tax code overhaul since 1986 “is going to suck all the air out of the room,” said Kathryn Ricard, senior vice president of retirement policy for the ERISA Industry Committee in Washington. Beyond tax reform, “it’s a pretty short list for retirement.”

That means the tax-deferral advantage for retirement savings will get plenty of attention in tax-reform talks, welcome or otherwise. “I don’t think retirement is going to be untouched,” said Michael Falcon, managing director and head of retirement, Americas, for J.P. Morgan Asset Management (JPM), New York. “People are looking at big pots of money, and retirement deferral is a big pot of money.” It’s different in this round of tax talks “because the system is growing up” and the amount of deferred tax revenue has grown with it.

You can find the full story at http://www.pionline.com/article/20130107/PRINTSUB/301079974/retirement-issues-likely-to-dovetail-with-tax-reform-in-2013

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