You can make a difference!
The last time Congress considered tax reform in 1986 it cut the 401(k) contribution limit by 70%, which had a devastating impact on the ability of American workers to save for retirement. Currently, Congress is strongly considering removing all or part of the tax incentives, including pre-tax contributions, for 401(k) plans. This is viewed as a method to increase federal tax income, based on the current budget scoring system. As negotiations continue in Washington, I strongly urge you to make your voice heard and take action to prevent this from happening again.
Many members of Congress are unaware of the critical impact their actions may have on American investors and our industry. We can help educate them, especially if we do so in large numbers and in a united way. This is why LPL Financial is supporting the nationwide Save My 401(k) campaign and urges you to do the same. The campaign’s purpose is simple: to get everyone in your network to email their respective member of Congress with this simple message — “Stay Away from My 401(k)!”
The campaign was developed by the National Association of Plan Advisors (NAPA). LPL Financial was a founding member and remains a strong supporter of NAPA.
To join this campaign, all you need to do is:
1. Visit www.savemy401k.com
2. Send an automated email to your members of Congress
3. Keep the campaign alive by sending the email in the attached document to your clients and other networks.
Let me say in advance how much your follow-through is appreciated. I cannot emphasize enough the importance of having this coordinated effort with your clients and colleagues. Tax reform poses real potential harm to the 401(k) and we must act together now.