As the Department of Labor works to finalize a regulation to address the dearth of retirement plan sponsorship among small businesses, and Congress is poised to consider legislation that intends to close the retirement plan access gap, a new survey sheds light on small employers' confusion over their options.

Millennium Trust Company, a Chicago-area based custodian and administer of SIMPLE and SEP retirement plans, recently commissioned a study of 500 decision makers at businesses with less than 150 employees that don't sponsor a retirement plan. The survey also included 500 employees without access to a retirement plan.

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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.