Small-business owners who want to offer retirement savings plans to employees are hoping Congress takes a serious look at the issue this year.
The House Committee on Small Business in the fall held a hearing on the state of retirement savings for small employers, noting administrative complexity and costs could discourage some businesses from offering the benefit.
The committee cited a 2012 study by the Government Accountability Office that found only 14 percent of businesses employing 100 workers or fewer sponsored some type of savings retirement plan. The GAO study said that of employers with one to four workers, only 5 percent of such businesses offer retirement savings plans.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
