Small businesses have a tough time when it comes to retirement. Not only do their founders/proprietors often lack a plan and a means of saving for the day they’re ready to leave the workplace behind, but employees—especially of very small businesses—also could be left out in the cold when it comes to 401(k)s or other saving mechanisms.

Small businesses employ most of the people in the country — according to the Small Business Administration, they collectively make up 99.7 percent of all employer firms, employ nearly 49 percent of the private workforce, pay about 42 percent of the private payroll, and created 63 percent of all new jobs added during the past 20 years — but most don’t have 401(k) plans. Even though politicians on both sides of the aisle would like to see that change, the lack of legislative action makes that an unlikely scenario in the near future.

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