Pension Reform Leaves Participants in the Dark

July 20, 2001 ( While expanded pension and savings opportunities abound in the new tax bill, more than a third (35%) of employer-sponsored retirement plan participants remain uncertain of their impact on their retirement planning.

And, of the 36% of Americans who participate in IRAs, 30% don?t know how the changes will affect their finances, a recent survey of 1,027 American taxpayers reveals.

In addition, the survey by financial services giant Morgan Stanley, shows that 70% of Americans view the tax changes as complex. In fact,

  • over 50% of investors plan to seek financial advice to learn how new tax laws affect their personal finances, and
  • some 40% are very likely or somewhat likely to consider a new source of information about the tax changes and their implications

– Camilla Klein