A bipartisan bill introduced in the House has given proponents hope that retirement reform will be a priority in both chambers of Congress in 2015.
The Small Businesses Add Value for Employees Act of 2014, co-sponsored by Wisconsin Democrat Ron Kind and Washington state Republican Dave Reichert, was introduced just days before the end of the last legislative session.
Among other things, the SAVE Act would increase deferral rates in existing SIMPLE and safe harbor 401(k) plans, extending tax credits on the matches small employers make into plans, and permitting more "open" multiple employer plans, which would allow non-aligned small businesses to pool assets under one 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.
