MOBILE, Ala., Dec. 5, 2012 /PRNewswire/ -- DailyAccess Corporation, a leading provider of comprehensive, technology-enabled employee benefit services, announced today that it has joined the fight against potential Congressional cuts in 401(k) and other retirement plan limits.
As Congress begins the debate on tax reform, DailyAccess is taking steps to become involved in the "Save My 401(k)" campaign recently launched by the American Society of Pension Professionals and Actuaries (ASPPA). The goal of the campaign is to raise awareness of the risks of potential Congressional actions, and to inundate Congress with emails from participants in 401(k) and other retirement plans, telling them to "Stay away from my 401(k)!"
The last time Congress reformed the tax code, they cut the 401(k) contribution limit by 70 percent. DailyAccess and its employees are reaching out to financial advisors and plan sponsor clients, as well as friends and family members, encouraging them to visit the campaign website, www.savemy401k.com. DailyAccess is also encouraging plan sponsors to provide this information to their plan participants. The campaign website provides more information and visitors can quickly and easily send an email to Congress, telling them not to reduce or eliminate the tax deferral incentives that we currently have.
"This is a fight that all of us are in. Killing incentives for 'K' plans will be extremely detrimental for retirement savings in the U.S., and drastically reduce the chance that millions of American workers can have at retiring," said Tommy Thomasson, President and CEO of DailyAccess Corporation. "In the best interest of our retirement system, plan sponsors, participants, and our industry, we need to participate in this effort to help gain grass-roots support."
About DailyAccess Corporation
Our comprehensive suite of employee plan services includes defined contribution plans, defined benefit plans, cash balance plans, nonqualified plans, flexible health benefits plans and actuarial services, investment advisory services through its wholly-owned subsidiary, InterServ®, LLC, and group benefit advisory services through its wholly-owned subsidiary, Resolution Benefits Design, LLC. All services are available as comprehensive integrated benefits packages or as individual components. DailyAccess provides fully transparent fees and has no proprietary investment or product requirements.
SOURCE DailyAccess Corporation