NAIFA Leaders Join White House Session on Tax Reform

NAIFA CEO Kevin Mayeux and COO Michael Gerber were among industry leaders who attended a White House Tax Reform Listening Session with Shahira Knight, special assistant to the president for tax and retirement policy, and Justin Muzinich, counselor to Treasury Secretary Steven Mnuchin.
In the meeting, Mayeux explained how NAIFA members help Main Street Americans protect their families' financial security and save for retirement. He emphasized the importance of ensuring that the tax code continues to encourage Americans to buy life insurance by maintaining its current tax treatment of insurance products and the industry. He then raised the industry's concern with the potential “Rotherization” of 401(k) plans. Mayeux told the administration officials that pre-tax contributions to 401(k) plans are critical to encouraging retirement savings. While pointing out that there are advantages to Roth-type plans, he stressed that it is important to give consumers the choice to save with a pre-tax contribution option.
Mayeux said that NAIFA hopes to serve as a further resource to the administration as tax reform discussions continue.
  • Posted June 27, 2017 IN

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