In Memoriam: Retirement Legislation of 2011 (BenefitsPro)

Seventy-five percent of small business owners agree financial preparedness in our country has reached crisis levels, yet, among nearly 30,000 small business owners, just one in five offer a 401(k) or other employee-funded retirement plan. Fortunately, a number of important legislative pushes are working to change this. From the Small Businesses Add Value for Employees Act, which would encourage small business owners to band together to offer less expensive plans, to the Savings Enhancement by Alleviating Leakage in 401(k) Savings Act, which would amend the Internal Revenue Code of 1986 to restrict access to retirement funds through loans, several of these laws have the potential to improve or encourage retirement planning.