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The automatic IRA provision in the House Ways and Means Committee’s tax package “directly conflicts with existing securities laws,” the American Securities Association (ASA) told House Ways and Means Committee Chairman Richard Neal, D-Mass., on Wednesday.

“Subtitle B’s requirement that qualifying SIMPLE plans and Automatic IRA Arrangements be established by employers without participation by the employee directly conflicts with existing securities laws,” Chris Iacovella, ASA’s CEO, told Neal in a letter.


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