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​DENVER (November 15, 2017) - The Financial Planning Association® (FPA®), the country's largest professional membership association for Certified Financial Planner™ (CFP®) professionals, issued the following statement today in response to U.S. Senator Orrin Hatch's amendment to the Senate Republican version of the tax bill that would restrict older Americans from making catch-up contributions to 401(k) retirement plans on a pre-tax basis:


"It is disheartening to see the attempt by Senator Orrin Hatch (R-Utah) to eliminate the ability of older Americans to make pre-tax contributions to defined contribution plans. These critical retirement plans make it possible for millions of Americans to save for their eventual transition out of the workforce and into retirement. Eliminating the contributions on a pre-tax basis for those savers age 50 and older will greatly hinder their ability to save."

"As the largest membership association for Certified Financial Planner™ (CFP®) professionals, our members know how critical 401(k) plans are for real people and how instrumental they are to planning for retirement. We encourage Senator Hatch and the members of the Senate Finance Committee to first consider the best interests of older American workers and the damage this amendment can potentially have on them."


About the Financial Planning Association

The Financial Planning Association® (FPA®) is the principal professional organization for CERTIFIED FINANCIAL PLANNERTM (CFP®) professionals, educators, financial services professionals and students who seek advancement in a growing, dynamic profession. Through a collaborative effort to provide more than 23,000 members with One ConnectionTM to tools and resources for professional development, business success, advocacy and community, FPA is the indispensable force in the advancement of today's CFP® professional. Learn more about FPA at and follow on Twitter at