President Trump wants to make employer-sponsored retirement accounts more accessible.
Do you own a small business?
Do you work for a small business?
If yes, an executive order signed by President Trump will affect you.
And, in a good way.
According to a recent Think Advisor article “Trump Orders Review of 401(k) Withdrawal Rules, New Rules for MEPs,” Trump signed an executive order to make retirement accounts more accessible for small businesses.
He also instructed the Treasury Department to review Required Minimum Distributions from IRAs and 401(k)s.
What is the goal?
President Trump wants to make it simpler for small businesses to offer retirement plans to their employees.
Regulations are a more difficult barrier to overcome for small businesses than for large companies.
This puts small businesses at a disadvantage when it comes to advocating for and providing benefits for their employees.
If more small businesses could establish affordable retirement plans for their employees, then they could be more competitive in recruiting and keeping talent.
In the end, more Americans would also be able to set themselves up for success and financial security in retirement.
That is change you can believe in.
Reference: Think Advisor (August 31, 2018) “Trump Orders Review of 401(k) Withdrawal Rules, New Rules for MEPs”