Two bills introduced in the House of Representatives by Rep. Richard Neal, D-MA, would dramatically expand access to workplace retirement savings plans and provide for a more muscular automatic enrollment safe harbor.
The Automatic Retirement Plan Act of 2017 would require private sector employers with more than 10 employees to offer a defined contribution plan. Employers would not be required to contribute to the plans. Non-compliance would be subject to an excise tax.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
