Retirement Investment in Small Employers Act
Latest action · May 21, 2025 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 21, 2025
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Retirement Investment in Small Employers Act
This bill increases the federal tax credit limit for startup costs incurred by certain small businesses to establish a qualified retirement plan.
As background, a federal tax credit is allowed for 50% of the costs incurred by a small business with no more than 100 qualified employees (or 100% of such costs for a small business with no more than 50 qualified employees) to establish a qualified retirement plan. Under current law, the tax credit is limited to the greater of (1) $500, or (2) the lesser of $250 per eligible employee or $5,000. (Additional limits may apply.)
The bill increases the limit on the tax credit for retirement plan startup costs for employers with no more than 10 employees to the greater of (1) $2,500, or (2) the lesser of $250 per employee or $5,000.
For the increased tax credit limit to apply, the retirement plan established by the business must accept payment of the matching contribution under the Saver’s Match program. Under the Saver's Match program, beginning in 2027, individuals that meet certain requirements are eligible to have a federal matching contribution of up to $1,000 (or $2,000 for married joint filers) deposited into a qualified retirement account.
Cosponsors 1
Members who signed on, in the order they did. All signed on May 21, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-NC | Ted Budd | Original | May 21, 2025 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred May 21, 2025 |
Actions 2
Everything that happened, newest first.
- May 21, 2025Introduced in Senate
- May 21, 2025Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 8837 | RISE Act | Related bill | May 14, 2026 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit.
- Short Title(s) as Introduced
- Retirement Investment in Small Employers Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 21, 2025Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
