Trump administration moves to give more Americans
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Posted On: 12/11/2019 10:10:15 PM
Trump administration moves to give more Americans 401(k) access
The Trump administration on Monday announced new a rule that aims to expand access to retirement plans for American workers, particularly those employed by small businesses.
The directive gives small businesses more freedom to link up to offer retirement savings benefits to employees through Association Retirement Plans. The goal is to help reduce the costs and burdens on the individual small businesses while giving the group more negotiating power.
"Many small businesses would like to offer retirement benefits to their employees, but are discouraged by the cost and complexity of running their own plans. Association Retirement Plans offer valuable retirement security to small businesses' employees through their retirement years," Acting Secretary of Labor Patrick Pizzella said in a statement
https://www.foxbusiness.com/economy/trump-adm...icans-401k
The Trump administration on Monday announced new a rule that aims to expand access to retirement plans for American workers, particularly those employed by small businesses.
The directive gives small businesses more freedom to link up to offer retirement savings benefits to employees through Association Retirement Plans. The goal is to help reduce the costs and burdens on the individual small businesses while giving the group more negotiating power.
"Many small businesses would like to offer retirement benefits to their employees, but are discouraged by the cost and complexity of running their own plans. Association Retirement Plans offer valuable retirement security to small businesses' employees through their retirement years," Acting Secretary of Labor Patrick Pizzella said in a statement
https://www.foxbusiness.com/economy/trump-adm...icans-401k
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