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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.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2365
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2025-07-21
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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

Small Nonprofit Retirement Security Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2365.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-21.

What are the main provisions?

Key points include:

  • 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.
What is the specific legal status?

The current status is Introduced.

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. Lankford, James [R-OK].

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 2025-12-23.

CATEGORIES

Taxes Labor