Regulatory Outlook | 10.20.20
SAVE Act Seeks to Expand Access to Retirement Plans
A bipartisan bill introduced by Rep. Ron Kind (D-WI) in the House October 16 would expand access to retirement savings plans. The Savings for All Vocations Enhancement (SAVE) Act seeks to increase access to retirement savings for employees of nonprofit organizations that utilize 403(b) employer-provided retirement plans, incentivize S-Corporation businesses to convert to an Employee Stock Ownership Plan (ESOP) structure, and correct overly harsh IRA penalties, bringing them in line with those of 401(k)s.
Read the full article on 401KSpecialist.