Bill to Expand Tax Incentives to Small Employers for Retirement Savings

A bill introduced in the Senate—Small Employers (RISE) Act (S. 4398)—would increase the minimum tax credit for employers with 10 or fewer employees for starting a retirement plan to $2,500 per employee who is not highly compensated. This measure is the same as one introduced in the House last October. While the measure has bi-partisan support, chances for enactment are uncertain. If enacted, it would not take effect until 2027. #IdeaoftheDay