To fight Goliath, David-sized businesses need help on retirement plans

The Hill

Now that National Small Business Week is here, lots of lawmakers will be telling us about the importance of fighting for the interests of America’s job creators. It is hard to take some of those claims seriously, however, since politicians in Washington, D.C. are close to killing a federal rule that makes it easier for states to establish retirement savings plans that benefit small businesses.

During the Obama administration, the U.S. Department of Labor gave more options to small businesses that don’t offer retirement programs by permitting states to create a public/private partnership that allows private-sector employees to contribute to an individual retirement savings account through modest payroll deductions. This is critical for small businesses that often lack the resources to offer these retirement savings options themselves.

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