Financial Services Industry
Industry: Email Alert RSS FeedCOUNTER MOVE: SIA wants contribution limits boosted.(Securities Industry Association )(Brief Article)(Statistical Data Included)
Pensions & Investments, July, 2000 by Anand, Vineeta
The securities industry is fighting back. The Securities Industry Association launched a campaign urging its members to write to their lawmakers in support of bipartisan pension legislation that would hike the 401(k) contribution limit to $15,000 from $10,500 and the IRA limit to $5,000 from $2,000.
The campaign is aimed at countering negative publicity by the Center on Budget and Policy Priorities, a left-leaning Washington-based think tank that fears the legislation would disproportionately benefit top earners while doing little for lower income families. The Washington-based SIA June 26 posted on its website a form letter members can send their lawmakers. "The legislation will result in more employer-sponsored pension plans and increase pension benefits...
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