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Easier Retirement Plans for Small Businesses

This act aims to make it easier for small businesses to offer better retirement plans to their employees. It allows companies to cover certain costs related to improving retirement plans directly from plan funds, which was previously not possible. This means more employees, especially in small businesses, can benefit from features like automatic enrollment in retirement plans.
Key points
Companies can now cover costs related to improving retirement plans (e.g., automatic enrollment) directly from plan funds, instead of paying out of pocket.
This change encourages small businesses to implement more beneficial features in retirement plans, increasing the number of employees saving for retirement.
More employees, especially in small businesses, can be automatically enrolled in retirement plans, making it easier to save for the future.
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Additional Information
Print number: 117_S_4086
Sponsor: Sen. Rosen, Jacky [D-NV]
Process start date: 2022-04-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Increasing Small Business Retirement Choices Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4086.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-04-26.

What are the main provisions?

Key points include:

  • Companies can now cover costs related to improving retirement plans (e.g., automatic enrollment) directly from plan funds, instead of paying out of pocket.
  • This change encourages small businesses to implement more beneficial features in retirement plans, increasing the number of employees saving for retirement.
  • More employees, especially in small businesses, can be automatically enrolled in retirement plans, making it easier to save for the future.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rosen, Jacky [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Labor Benefits Economy