• SOURCE: CLS Strategies

Contribution Plans Are Key Tools Used To Save For Retirement



.mp3 audio package
ANCHOR LEAD: For an increasing number of Americans, defined contribution plans—such as 401(k)s—are key tools used to save for retirement. New research shows U.S. households strongly support these plans and oppose changes to their tax benefits. Frank Palmer has the details. (:60) SCRIPT: Newsbreak, I'm Frank Palmer. The Investment Company Institute (ICI) just completed a comprehensive survey examining Americans' views on defined contribution plans. The ICI's Sarah Holden… CUT: (Holden) Americans continue to agree that 401(k) plans help them think about the long term and make it easier to save for retirement. Whether they own accounts or not, most households are confident in the ability of 401(k) plans to help them meet their retirement goals. One of the best features of 401(k)s is the ability to save paycheck-by-paycheck on a tax-deferred basis. SCRIPT: In his latest federal budget, President Obama proposes to further limit the amount Americans can save for retirement and reduce retirement tax incentives. CUT: (Holden) Our survey found that about nine in 10 households disagree with the notion that the government should change the tax advantages of 401(k) accounts. 401(k) plans allow all workers, regardless of income, to make tax-deferred contributions to their retirement savings. Washington needs to maintain this important retirement savings incentive. SCRIPT: For more information visit ici.org. That's Newsbreak from the ICI.
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