S 1840
Retirement Investment in Small Employers Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Retirement Investment in Small Employers Act, aims to encourage small businesses to offer retirement plans to their employees. It proposes a tax credit for microemployers – businesses with fewer than 50 employees – establishing new retirement plans. Specifically, the bill increases the amount of the credit available to these employers and clarifies the definition of a ‘qualified microemployer’ to include businesses that participate in matching contribution programs. The credit will be available starting in 2025.
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