Plan Sponsors Pitch Retirement Tax Breaks for Fiscal Relief Package (1)

Retirement and tax industry leaders are urging lawmakers to relax retirement account-related tax penalties and withdrawal rules in the rapidly evolving congressional stimulus package.

House and Senate lawmakers are racing to assemble a trillion-plus dollar relief bundle intended to counteract the damage Covid-19 has wreaked on the U.S. economy. Treasury Secretary Steven Mnuchin said the goal is to produce a legislative deal for President Donald Trump to sign Monday.

Nearly two dozen supporters Friday circulated a letter on Capitol Hill suggesting retirement savings breaks be included in negotiations currently focused on rebate checks to consumers and government-backed loans for struggling ...