Strengthening Retirement Security in America

What it means

Directs federal agencies to expand access to workplace retirement plans, especially for small businesses and non-traditional workers. Agencies must explore ways to simplify regulations, reduce costs, and update distribution rules to better reflect current life expectancy.

Expected impact

• Increased retirement plan access, particularly through Multiple Employer Plans (MEPs) that allow employees from different companies to participate in a single plan
• Reduced administrative burden for small businesses seeking to offer retirement benefits
• Simplified retirement plan disclosures and updated distribution rules to better reflect modern lifespans
• Potential long-term improvement in retirement security for American workers, especially those in small businesses or with non-traditional employment arrangements