Plan sponsors are overwhelmingly against a tax reform package that would eliminate or reduce thetax-preferential treatment of defined-contribution retirementplans.

In a survey conducted by the Plan Sponsor Council of America, anonprofit trade group that represents the interests of employersponsors of workplace retirement plans, nearly 95% of the 443sponsors who responded strongly or somewhat agree that eliminatingor reducing pre-tax contributions to 401(k) plans would be a “bad idea.”

Early vows by the Trump administration to make tax reform a toppriority have led to speculation that the tax treatment of workplace retirement and health care plans arenegotiable as a way to pay for significant reductions in individualand corporate tax rates.