ASPPA’s General Counsel Craig Hoffman issues comment letters to the IRS on their pre-approved plan programs.
The “Save My 401k” campaign developed by ASPPA and Beekeeper Group has won a Bronze Telly Award for recognition as industry leaders in media innovation. The judging committee has placed the animation in the upper echelon of nearly 12,000 submissions, covering a wide range of advertising agencies, television stations, and corporate video departments from around the world.
“We were very concerned when last year’s budget included a double tax on contributions to 401(k) plans. Small business owners earning over $250,000 would have to pay tax on contributions in the year the contributions are made then pay tax at the full rate when contributions are distributed at retirement. We were hoping this misguided proposal would be eliminated in this year’s budget, but instead the Administration has kept the double tax proposal, and added another penalty for retirement savings.