House Introduces Bill to Expand Small Business Retirement Plans
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Table of Contents
A member of the House introduced the SIMPLE Act, a bill that would change how small businesses can set up retirement plans for their employees. The bill was referred to the Committee on Education and Workforce and the Committee on Ways and Means for review.
Why it matters: This is a standard legislative introduction. Until the bill passes both chambers of Congress and is signed by the President, it has no legal effect. The practical significance is currently limited to the legislative calendar, as the committees must first decide whether to hold hearings or mark up the text.
Who it affects
- Small business owners with 100 or fewer employees
The source is Congress.gov, the official record of the U.S. House of Representatives; readers should check the full text of the bill for specific details on eligibility and tax benefits.
Agency: House
Source: Congress.gov — read the official document