Washington — The Financial Planning Association has lent its support to a White House budget proposal that called for the creation of three new savings plans for saving for retirement, and that would reduce the number of defined-contribution plans to one.

“The FPA supports tax changes that will help Americans more easily reach their retirement savings goals,” said Gordon Bernhardt, CFP, CPA, and chairman of the FPA’s Tax Subcommittee. “We especially like the president’s proposals because of their simplicity and universality.”

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