US.New Rule to Encourage Retirement Plans by Smaller Companies Coming Soon
Small businesses would have an easier time banding together to create joint 401(k) retirement plans for workers under a rule the Labor Department is set to finish soon, according to a senior administration official.
The expected rule would broaden the ways companies could join together to offer retirement accounts. Under a proposal floated in October, different types of businesses, say landscaping companies and real-estate firms, could create a joint plan as long as they are located in the same state or metropolitan.
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