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ARCHIVE
Mind the Gap
By Sarah Holden and Christina Kilroy
July 22, 2019
It’s a good idea to “mind the gap” if you’re traveling on the Tube in London, taking Amtrak in the United States, or riding Metro in Paris or Washington, DC. Being mindful of the space between where you are and where you’re going is important—not only when navigating public transit, but also when saving for retirement.
Saving for retirement is a career-long process, with many decisions along the way, including how much to save, how to invest, how long to work, when to retire, and when to claim Social Security. To complement Social Security, which provides an important foundation for nearly all American workers, Americans have more than $29 trillion earmarked for retirement (see figure below). Ongoing contributions continually add more to that nest egg—about $400 billion a year into 401(k) plans alone—but the question each saver asks is: am I doing enough?
US Retirement Assets Top $29 Trillion
Trillions of dollars, 2019:Q1
Source: Investment Company Institute, Quarterly Retirement Market Data
The good news is that there are many resources available to help you assess if you’re on track to reach your retirement goals. If you have a 401(k) or other workplace retirement plan, your plan likely provides access to a retirement assessment tool such as a retirement gap calculator, an income projection tool, or a projected monthly income estimate on your account statement.
These valuable tools help retirement savers think about and plan for their future, but savers agree that the retirement plans themselves also help. According to an ICI survey, nine in 10 defined contribution (DC) account–owning individuals appreciate that their employer-sponsored retirement account helps them to think about the long term, not just their current needs.
If you don’t have access to a workplace retirement plan or if you need assistance beyond what your plan sponsor provides, these resources may also be helpful:
- If you’re looking for general guidance in estimating how much to save each year to reach your retirement goals, check out the retirement calculators from FINRA and the US Department of Labor.
- If you’re saving for retirement through an individual retirement account (IRA), your financial services provider may have a calculator on its website.
- And, if your household works with a financial adviser, he or she can also help with this exercise.
Whatever tool you use, be sure to mind the gap. By making small adjustments to your savings habits now instead of more dramatic changes closer to retirement, you can let compound returns do the heavy lifting—and you can better enjoy the ride.
Sarah Holden is ICI’s senior director of retirement and investor research, and Christina Kilroy is vice president of the ICI Education Foundation.
Permalink: https://www.ici.org/viewpoints/19_view_mindthegap
TOPICS: 401(k)IRAInvestment EducationMutual FundRetirement ResearchSavingsShareholderTaxes
It’s 5/29—Are You Taking Full Advantage of College Savings Opportunities?
By Sarah Holden and Christina Kilroy
May 29, 2019
Saving for an education is an important financial goal for millions of US households. In fact, nearly one-quarter of mutual fund–owning households indicate saving for educational expenses is one of their goals for their mutual fund investments. An increasingly popular way to save for college is through 529 plans, named for the section of the tax code that provides for their favorable tax treatment....
TOPICS: Investment EducationSavingsTaxes
28 Trillion Smart Decisions
By Christina Kilroy
October 22, 2018
Have you ever done one small, smart thing that ended up making a huge difference in your future? I’m not talking about blind luck—like buying a ticket that turns out to be the winner in the (currently) $1.6 billion Mega Millions. No, I’m talking about small, smart decisions that can materially affect us later in life....
TOPICS: Investment EducationMutual FundRetirement ResearchSavingsShareholderTaxes
Popular 529 Savings Plans Expand to Reach Students of All Ages
By Christina Kilroy
May 29, 2018
Today, on May 29—“5/29”—we mark 529 College Savings Day. Many people interested in saving for a child’s or grandchild’s future college costs are using targeted savings vehicles called 529 savings plans. The plans, which have grown in popularity over the past decade and a half as a way to save for a family member’s college expenses, may now also be used to cover tuition for elementary and secondary education....
TOPICS: Investment EducationSavingsTaxes
A More Accurate Evaluation of Retirement Plan Participation
By Miriam Bridges
May 2, 2018
What’s the actual participation rate of Americans preparing for retirement through a workplace retirement plan? It’s an important question, and one that ICI economists Peter Brady and Steven Bass shed some light on in their new analysis of tax data, “Who Participates in Retirement Plans, 2014.”
The retirement plan participation rate—often used to evaluate the performance of the US voluntary employer plan system—understates the true scope and importance of these plans. In their careful analysis, Brady and Bass give two reasons for this understatement...
TOPICS: Retirement PolicyRetirement ResearchSavingsTaxes
Invest in Your Future Through an IRA
By Christina Kilroy
March 13, 2018
Nearly 44 million US households invest and save for their future through individual retirement accounts (IRAs). If your household isn’t one, now is a great opportunity to join them. And if you are already saving in an IRA, there are some advantages that you may not be aware of—and that are worth knowing about as Tax Day approaches...
TOPICS: Investment EducationMutual FundRetirement ResearchSavingsShareholderTaxes
States Are Abusing Abandoned-Property Funds to Plug Budget Shortfalls
By Tamara K. Salmon
January 11, 2018
Imagine finding out that your investment account has been turned over to your state because it was considered “abandoned.” Imagine, too, that after the account was turned over to the state, the account received a capital gains distribution. As a result, you are liable for paying the taxes on that distribution—and can be assessed monetary penalties for not paying the taxes in a timely fashion.
TOPICS: Fund RegulationGovernment AffairsMutual FundRetirement PolicySavingsShareholderTaxes
Congress Must Spike “FIFO” for All Investors
By Paul Schott Stevens
December 8, 2017
As the House and Senate reconcile their differing versions of tax reform, one provision from the Senate’s bill should be deleted immediately. Tax reform must not impose an accounting system known as “first-in, first-out” (FIFO) that would deprive America’s investors of their long-standing ability to manage their finances for the greatest tax efficiency.
TOPICS: Fund RegulationGovernment AffairsMutual FundRetirement PolicyTaxesTrading
Autumn Air, Playoff Baseball, and…National Retirement Security Week
By Christina Kilroy
October 17, 2017
The baseball postseason is well underway and the air has finally turned crisp. Perhaps that’s why—as we’re marking National Retirement Security Week—our thoughts have turned to the words of Yogi Berra, the great New York Yankees catcher. He was credited with so many pithy, wise, and witty sayings that, in classic Berra style, he remarked, “I really didn't say everything I said.”
TOPICS: 401(k)Investment EducationMutual FundSavingsShareholderTaxes
Ten Years After the PPA, the Path to Retirement Saving Is Easier
By Sarah Holden and Elena Barone Chism
August 22, 2016
Ten years ago, on August 17, 2006, President George W. Bush signed the Pension Protection Act (PPA) into law, with the goal of ensuring greater retirement security for American workers. With regard to defined contribution (DC) plans, such as 401(k) plans, PPA further encouraged automatic enrollment while paving the way for diversified default investments and the creation of Roth accounts inside DC plans. PPA also made permanent previously legislated contribution-limit increases and the saver’s credit.
TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes
When Investor Protection Becomes Protectionism
By Patrice Bergé-Vincent
June 14, 2016
Today, Europe is facing two related needs: to provide its citizens with efficient, lower-cost vehicles for savings and investment, and to bolster economic growth.
TOPICS: EuropeFinancial MarketsFund RegulationICI GlobalInternationalMutual FundTaxes
Three Reasons Why You Should Consider an IRA
By Sarah Holden
March 8, 2016
April 18 is the deadline to file income tax returns with the federal government this year.
How America Supports Retirement: The Incentive to Save Is Not Upside Down
By Peter J. Brady
February 25, 2016
In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, and the first three ICI Viewpoints in this series, I’ve demonstrated that Social Security’s benefit formula drives participation in tax-deferred employer-sponsored retirement plans ; that the full system of government support for retirement is progressive; and that those in higher tax brackets don’t enjoy greater “bang for their buck” from tax deferral.
TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes
How America Supports Retirement: What Do Tax Rates Have to Do with the Benefits of Tax Deferral? Less Than You Think
By Peter J. Brady
February 24, 2016
In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, I set out to gain a comprehensive view of how government policy supports American workers as they gather resources for retirement.
TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes
How America Supports Retirement: No, Benefits Are Not “Tilted” to the Higher Earners
By Peter J. Brady
February 23, 2016
Second in a series of ICI Viewpoints.
In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, I analyze the benefits individuals receive from the major government policies that help American workers accumulate resources for retirement: Social Security and tax deferral on compensation set aside for retirement in employer-based plans (both traditional pensions and defined contribution plans, such as 401(k) plans).
TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes
How America Supports Retirement: Tackling the Myths That Surround Us
By Peter J. Brady
February 22, 2016
America’s retirement system isn’t perfect but it’s a lot stronger than many people think. Whether by accident or design, the U.S. retirement system provides benefits to workers across the earnings distribution and has helped millions of retirees maintain their standard of living in retirement.
TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes
All Pain and No Gain for Fund Investors
By Paul Schott Stevens
February 5, 2016
The following is a letter submitted to the editor of the New York Times. A financial transaction tax (FTT) (editorial, The Need for a Tax on Financial Trading, Jan. 28) is a terrible idea that would harm all investors, especially American workers saving for retirement. We have yet to see an FTT proposal that would not hurt Main Street nor weaken our capital markets.
TOPICS: Financial MarketsMutual FundOperations and TechnologyShareholderTaxesTrading
Statement of the Investment Company Institute at Senate Finance Committee Hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy”
By Brian Reid
September 16, 2014
This statement was given on behalf of ICI by Brian Reid, chief economist, at the Senate Finance Committee’s hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy.” For more information, see ICI’s full written testimony.
TOPICS: 401(k)Government AffairsInvestor ResearchMutual FundRetirement PolicyRetirement ResearchSavingsTaxes
Happy Birthday ERISA! Congratulations on 40 Years
By Sarah Holden and Elena Barone Chism
September 2, 2014
Today marks the 40th birthday of the Employee Retirement Income Security Act (ERISA). Signed into law on September 2, 1974, ERISA introduced bold steps to safeguard Americans’ employer-sponsored pensions and created the individual retirement account (IRA). Assets earmarked for retirement totaled $0.4 trillion at year-end 1974 (see the figure below). At this modest start, private-sector defined benefit (DB) plans accounted for 35 percent of the total; federal, state, and local plans for 34 percent; private-sector defined contribution (DC) plans for 17 percent; annuities for 13 percent; and there was a mere glimmer of IRA assets by year-end. Currently, total U.S. retirement assets are $23.0 trillion, and their composition has shifted considerably over the past 40 years.
TOPICS: 401(k)Fixed IncomeGovernment AffairsInvestment EducationInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchSavingsTaxesTreasury
Washington: Put Your (Retirement) Money Where Your Mouth Is
By Mike McNamee
March 4, 2014
When President Obama announced a new effort to expand access to retirement savings opportunities, ICI was among the first to applaud. The Administration’s “myRA” looks to provide a new option for Americans who want to put money aside for retirement, but who might not have access to a retirement plan through their workplace. These accounts would complement the wide array of investment options already available to these workers.
TOPICS: 401(k)Government AffairsInvestment EducationRetirement PolicySavingsTaxes
A Growing Urgency: FATCA Agreements in the Asia-Pacific Region
By Keith Lawson
February 21, 2014
Questions are swirling as the 1 July 2014 effective date for the US Foreign Account Tax Compliance Act (FATCA) draws closer.
Creating a Globally Workable Compliance Framework for Financial Account Tax Information
By Keith Lawson
February 13, 2014
By developing a global standard for collecting customer information from financial institutions and exchanging that information between governmental taxing authorities worldwide, the Organisation for Economic Co-operation and Development (OECD) has taken an important step to enhance tax compliance. This common reporting standard (CRS) for the automatic exchange of information (AEOI), which was announced by the OECD on 13 February 2014, will be presented to the G20 at their 22–23 February 2014 meeting in Sydney.
TOPICS: Government AffairsICI GlobalInternationalTaxes
America’s Retirement System Is Strong
By Sarah Holden
December 18, 2013
One year ago, ICI released its landmark study, The Success of the U.S. Retirement System, a compilation of research from a wide range of sources, which found that the country’s retirement system is fostering economic security in retirement for Americans across all income levels.
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
ICI’s Guide to Avoiding a Common 401(k) Tax Trap
By Mike McNamee
December 9, 2013
A tax trap for retirement savings is catching many smart people unaware. If allowed to go unchecked, it could harm the retirement savings of millions of Americans. A columnist for the Washington Post was just the latest in a long list of victims.
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
Revenue Estimates of Restricting Tax Deferral: It Ain’t Necessarily So
By Peter Brady
September 20, 2013
Fifth in a series of posts about retirement plans and the policy proposals surrounding them.
In previous Viewpoints posts, I explained that retirement contributions are neither tax deductions nor tax exclusions, but rather are tax deferrals. I also explained why, in my opinion, the two most prominent proposals to restrict qualified deferred compensation are flawed (post three and post four).
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
Tax Reforms Should Not Favor DB Plans over DC Plans
By Peter Brady
September 19, 2013
Fourth in a series of posts about retirement plans and the policy proposals surrounding them.
In The Tax Benefits and Revenue Costs of Tax Deferral and in two previous Viewpoints posts (post one and post two), I explained the benefits that workers get from deferring tax on compensation set aside for retirement.
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
A ‘Modest’ Proposal That Isn’t: Limiting the Up-Front Benefits of Retirement Contributions
By Peter Brady
September 18, 2013
Third in a series of posts about retirement plans and the policy proposals surrounding them.
In two previous Viewpoints posts (post one and post two), I explained the benefits that workers get from deferring tax on compensation set aside for retirement.
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
Marginal Tax Rates and the Benefits of Tax Deferral
By Peter Brady
September 17, 2013
Second in a series of posts about retirement plans and the policy proposals surrounding them.
In a previous Viewpoints post, I discussed the difference between tax deferral—the tax treatment applied to retirement savings—and tax deductions and exclusions, such as the mortgage interest deduction or the exclusion of employer-paid health insurance premiums from income. The difference is often overlooked or misunderstood, leading to inaccurate analysis and harmful policy proposals.
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
Retirement Plan Contributions Are Tax-Deferred—Not Tax-Free
By Peter Brady
September 16, 2013
First in a series of posts about retirement plans and the policy proposals surrounding them.
In today’s fiscal and political climate, taxes are never far from politicians’ minds. Whether to achieve comprehensive tax reform or to raise revenue to meet budget deficits, members of Congress are now considering changes to a range of tax code provisions—including those governing retirement policy. Any comprehensive effort to address fiscal policy or tax reform should examine every option, but some discussions of retirement policy have been misguided. The tax treatment of retirement savings—tax deferral— too often has been lumped together with tax deductions (such as the deduction from income of mortgage interest expense) and tax exclusions (such as the exclusion from income of employer-provided health insurance premiums).
TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes
A Step in the Right Direction on FTTs
By Keith Lawson
September 10, 2013
In a noteworthy development for anyone following the debate around financial transaction taxes (FTTs), the Council of the European Union Legal Service has issued a legal opinion regarding the FTT proposal under consideration by some EU member countries.
TOPICS: ICI GlobalTaxes
FTT Would Shut Financial Institutions in Participating Countries Out of Repo Market
By Shelly Antoniewicz and Peter Brady
April 22, 2013
The European Commission has proposed imposing a 0.1 percent (10 basis points) levy on financial transactions. As ICI has detailed, this financial transaction tax (FTT) would have a host of negative consequences, including harm to investors and extraterritoriality.
TOPICS: ICI GlobalMoney Market FundsTaxes
The Extraordinarily Extraterritorial Proposal to Tax Global Financial Transactions
By Keith Lawson
April 10, 2013
The financial transaction tax (FTT) being considered by several European countries would have an extraordinary extraterritorial effect.
TOPICS: ICI GlobalTaxes
Individual Investors Will Be Harmed by Financial Transaction Taxes
By Keith Lawson
March 27, 2013
A fundamental tenet of the argument for a financial transaction taxes (FTTs) is that individuals would not be harmed.
TOPICS: ICI GlobalTaxes
ICI Global Welcomes Improvements in Final FATCA Regulations
By Ianthe Zabel
January 18, 2013
TOPICS: InternationalTaxes
In Case You Missed It: “Don't Enact Financial Transaction Taxes”
By Ianthé Zabel
December 21, 2012
The Hill has just posted a commentary from ICI President and CEO Paul Schott Stevens in which he discusses financial transaction taxes (FTTs) and why U.S. policymakers would be well-advised to avoid enacting them.
TOPICS: Financial MarketsGovernment AffairsTaxes
Fund Industry Leaders Urge “Sustainable Course” for U.S. Finances
By Mike McNamee
December 18, 2012
For the good of investors and all Americans, leaders across the fund industry have been outspoken about the necessity of the U.S. government taking a sound and sustainable approach to its finances.
TOPICS: Financial MarketsTaxes
ICI Supports Legislation to Shield U.S. Investors from Foreign Financial Taxes
By Ianthé Zabel
November 30, 2012
ICI issued the following statement in support of H.R. 6616, a bill introduced by Representative Tom Price (R-GA) and designed to protect American investors from the application of extraterritorial financial transaction taxes.
TOPICS: Financial MarketsGovernment AffairsTaxes
FATCA Must Not Undercut the Advantages That U.S. ETFs Offer Global Investors
By Keith Lawson and Ryan Lovin
November 6, 2012
In recent months, ICI has continued to engage closely with regulators to share our concerns and suggestions for implementing the Foreign Account Tax Compliance Act (FATCA).
TOPICS: ICI GlobalTaxes
More Time Is Needed to Ensure Effective FATCA Implementation
By Keith Lawson
November 6, 2012
On January 1, 2013, various rules implementing the Foreign Account Tax Compliance Act (FATCA) begin to take effect.
TOPICS: ICI GlobalTaxes
Transparency and Inclusiveness Are Key to Addressing FATCA Challenges
By Keith Lawson
October 3, 2012
U.S. officials, their counterparts overseas, and representatives from the private sector continue to make impressive headway in implementing the Foreign Account Tax Compliance Act (FATCA).
TOPICS: ICI GlobalTaxes
Regulators and Industry Exchange FATCA Insights at ICI and ICI Global Webinar
By Keith Lawson
August 30, 2012
Senior officials from the U.S. Treasury Department and the Organization for Economic Cooperation and Development (OECD), along with industry experts, recently engaged in a very informative webinar discussion regarding a model intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA). The model IGA, as discussed in an earlier ICI Viewpoints post, was developed by the Treasury Department with the active cooperation of senior tax officials from France, Germany, Italy, Spain, and the United Kingdom.
TOPICS: ICI GlobalTaxes
How the Model Intergovernmental Agreement Reduces FATCA Burdens
By Keith Lawson
August 1, 2012
The U.S. Treasury Department has made significant progress with its July 26 release of a model intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA). This model IGA—developed with the active cooperation of senior tax officials from France, Germany, Italy, Spain, and the United Kingdom—addresses many of the U.S. and global fund industries’ concerns with the substantial compliance burdens placed by FATCA on funds, their distributors, and their investors. ICI and ICI Global applaud this development and look forward to continuing our dialogue with these governments on the FATCA regulations and the IGAs they craft based on the model.
TOPICS: ICI GlobalTaxes
FATCA’s Challenges for Global Investment Funds
By Keith Lawson
May 30, 2012
The rules proposed to implement the Foreign Account Tax Compliance Act (FATCA) pose a number of serious challenges for ICI Global members. ICI Global’s recent comment letter to the U.S. Department of the Treasury and the Internal Revenue Service (IRS) made several recommendations on how the FATCA rules should be amended so that ICI Global’s members—regulated funds that are publicly offered to investors in leading jurisdictions worldwide—can overcome these challenges without compromising the tax compliance benefits contemplated by FATCA.
TOPICS: ICI GlobalTaxes
Improving FATCA: Three Key Areas
By Keith Lawson
May 30, 2012
Congress enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 in response to efforts by certain U.S. taxpayers to hide assets and income subject to U.S. tax. To enhance tax compliance by U.S. taxpayers, FATCA imposes significant new customer identification, reporting, and withholding obligations on both U.S. and foreign financial institutions. Any foreign financial institution that fails to attain FATCA compliance will suffer 30 percent withholding tax on all payments from U.S. sources, including income receipts and sales proceeds.
TOPICS: Taxes
Achieving the Proper Balance on FATCA
By Keith Lawson
February 8, 2012
ICI and ICI Global have engaged actively with Treasury and the Internal Revenue Service (IRS) as they have crafted the proposed Foreign Account Tax Compliance Act (FATCA) regulations, which were issued today. Our message has been simple: ensure that the tax compliance benefits anticipated by FATCA, which we support strongly, justify the costs that will be imposed.
TOPICS: Taxes
Fund Investment in Commodities Provides Opportunity and Diversification for Investors
By Karen Lau Gibian and Rachel H. Graham
January 26, 2012
On Capitol Hill, a hearing at the Permanent Subcommittee on Investigations (PSI) raises questions about mutual fund investors’ ability to get commodity exposure in their portfolios and suggests the Internal Revenue Service (IRS) should no longer allow this type of investment.
TOPICS: Commodity InvestmentsFinancial MarketsFund RegulationTaxes
Now Is the Time to Put America on a Path of Fiscal Responsibility
By Paul Schott Stevens
November 21, 2011
On behalf of funds and the 90 million investors that they serve, fund industry leaders are sending a simple but urgent message to Congress and the White House: the time has arrived to put America’s fiscal house in order.
Thirty executives of companies represented on ICI’s Board of Governors, the chair of the Independent Directors Council, and I are joining together to send a letter to the co-chairs of the Joint Select Committee on Deficit Reduction—known as the “Super Committee”—every other member of Congress, and the President.
TOPICS: Financial MarketsTaxes
Changes to Cost Basis Rules Provide Investors More Flexibility
By Karen Lau Gibian
August 26, 2011
In a positive development for fund shareholders, the Department of the Treasury and the Internal Revenue Service have issued new cost basis reporting rules that enhance a fund’s ability to provide shareholders with average cost basis information. Fund shareholders have become quite familiar with average cost basis information, which many funds have been providing to their shareholders voluntarily for 20 years or more. The regulatory change makes it more likely that funds will continue to use this method as their default method for redeemed shares.
TOPICS: Taxes
Cracking Down on Tax Evaders Without Cracking Up U.S. Capital Markets
By Keith Lawson
June 15, 2011
The Foreign Account Tax Compliance Act (FATCA) is a law designed to ensure that U.S. persons holding assets through accounts in foreign financial institutions comply with their U.S. tax obligations. In other words, the law aims to crack down on tax evasion through offshore investments. It is set to apply to payments made beginning January 1, 2013.
TOPICS: InternationalTaxes
ICI Urges Change in Cost Basis Rules to Avoid Harm to Fund Investors
By Karen Lau Gibian
January 13, 2011
A provision in the new cost basis rules could hurt fund investors. We recently contacted the Internal Revenue Service (IRS) and the U.S. Department of the Treasury, urging them to amend the rules to avoid this outcome.
TOPICS: Taxes
New Law Will Make Funds More Efficient and Reduce Need for Amended Tax Returns
By Ianthe Zabel
December 23, 2010
ICI President and CEO Paul Schott Stevens made the following statement upon the enactment of H.R. 4337, a bill that updates and simplifies a number of mutual fund tax rules...
TOPICS: Government AffairsTaxes
ICI Supports House Vote on Bill to Update Mutual Fund Tax Laws
By Ianthe Zabel
December 17, 2010
ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. House of Representatives approval of H.R. 4337, as amended and approved by the U.S. Senate.
TOPICS: Government AffairsTaxes
Enactment of Tax Bill Extending Current Tax Rates on Investments Comes at Critical Time and Brings Certainty
By Ianthe Zabel
December 17, 2010
ICI President and CEO Paul Schott Stevens today issued the following statement on enactment of a tax bill that will maintain and extend the current tax rates on capital gains and dividends for two years...
TOPICS: Government AffairsTaxes
ICI Applauds Senate Approval of Bill to Modernize Mutual Fund Tax Laws
By Ianthe Zabel
December 9, 2010
ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. Senate approval of H.R. 4337.
TOPICS: Government AffairsTaxes
Fund Investors, Economy Will Benefit From Certainty and Lower Tax Rates on Investments
By Ianthe Zabel
December 9, 2010
ICI President and CEO Paul Schott Stevens today issued the following statement on the tax legislation, H.R. 4853 as amended, approved by the U.S. Senate in a strong bipartisan vote.
TOPICS: Government AffairsTaxes
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