CONGRESS PRESERVES TAX DEFERRAL OF RETIREMENT SAVINGS

One Big Beautiful Bill Act Sent to President for Signature

 WASHINGTON, D.C. – Congress preserved tax deferral of retirement savings – a key incentive that helps millions of workers to save for retirement – in the One Big Beautiful Bill Act, which is on its way to the White House for the President’s signature.

The One Big Beautiful Bill Act renews many expiring provisions of the Tax Cuts and Jobs Act of 2017, and includes other provisions advocated by the Trump Administration.

Preserving tax deferral of retirement savings is a top priority for the Insured Retirement Institute (IRI) and is included in the association’s 2025 Federal Retirement Security Blueprint.

“Preserving the tax deferral of retirement savings is a win for retirement savers,” said Wayne Chopus, President and CEO of IRI.  “Congress’ action ensures that a vital incentive to save for retirement remains intact — an outcome we’ve strongly advocated for on behalf of workers and retirees.”

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Contact: Dan Zielinski