What is the official ID of this bill?

The official print number for this legislation is S 4398.

When did the legislative process begin?

The process officially started on 2024-05-23.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/s4398/BILLS-118s4398is.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

Who is the primary sponsor?

The primary sponsor is Sen. Hassan, Margaret Wood [D-NH].

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Analysis and Potential Impact of S 4398

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Increased Tax Credit for Micro-Employers to Start Retirement Plans.

Q: What are the main provisions?

Key points include: Micro-employers (10 or fewer employees) can receive a 100% tax credit for retirement plan startup costs. The maximum annual tax credit for starting a plan increases fivefold, from $500 to $2,500. These changes will take effect for taxable years beginning after December 31, 2026.

This bill aims to make it easier for very small businesses (up to 10 employees) to establish workplace retirement savings plans. It increases the tax credit for startup costs from 50% to 100% and raises the maximum credit amount from $500 to $2,500. This change encourages micro-employers to offer retirement benefits, potentially giving more workers access to workplace savings.

Key points

Micro-employers (10 or fewer employees) can receive a 100% tax credit for retirement plan startup costs.

The maximum annual tax credit for starting a plan increases fivefold, from $500 to $2,500.

These changes will take effect for taxable years beginning after December 31, 2026.

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Additional Information

Retirement Investment in Small Employers Act

Print number: S 4398

Sponsor: Sen. Hassan, Margaret Wood [D-NH]

Process start date: 2024-05-23

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-flash-latest

Source data: api.congress.gov

AI work logs for this document launch

Increased Tax Credit for Micro-Employers to Start Retirement Plans.

Key Questions about Increased Tax Credit for Micro-Employers to Start Retirement Plans.