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Tax Credits for Small Nonprofits on Retirement Plans

New rules make it easier for small nonprofit organizations to offer retirement plans to their employees. These organizations can now claim tax credits, which may help them provide better retirement benefits. The goal is to increase access to retirement savings for individuals working in the nonprofit sector.
Key points
Small nonprofit organizations can now claim tax credits for starting retirement plans.
Credits are also available for automatically enrolling employees into retirement plans.
These changes apply to tax years beginning after December 31, 2024.
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Status: Introduced
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Additional Information
Print number: 119_S_2365
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2025-07-21