“Big Six” Unveil Tax Reform Framework But Effect on Retirement Plans Unclear

On September 27, the Big Six – Treasury Secretary Steve Mnuchin, National Economic Council Director Gary Cohn, Speaker of the House Paul Ryan (R-WI), Ways and Means Chairman Kevin Brady (R-TX), Senate Majority Leader Mitch McConnell (R-KY), and Finance Committee Chairman Orin Hatch (R-UT) – released a framework for tax reform. The proposal is the result of months of closed-door negotiations and is intended to set the stage for the House and Senate committees to begin drafting legislation. Please see the attached memo for further information.