Congress·In Committee·S. 1840

Retirement Investment in Small Employers Act

Retirement: Tax Credits for Small Business Retirement Plans

May 21, 2025·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

Next up: A senate committeeNo action in 13 months

This bill was recently introduced in the Senate and is currently being reviewed by the Committee on Finance. It is actively moving through the early stages of the legislative process. There are no upcoming votes scheduled at this time.

Legislative Progress

Senate

House

President

Law

Could go either way

The bill has support from both parties, which helps it move forward. However, many tax bills wait for larger packages before they are passed.

How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from S. 4398 (118th), which died when its Congress ended.
S. 4398 (118th) →

Key Points

This bill helps the smallest businesses offer retirement plans to their workers. It specifically targets companies with 10 or fewer employees.
Currently, these small businesses can get a tax credit for half of the costs to start a retirement plan. This bill would increase that to cover 100 percent of the startup costs.
The bill also raises the maximum credit amount from $500 to $2,500. This gives owners more money back to cover the administrative work of setting up a new plan.
To get the higher credit, the business must allow their plan to accept federal matching contributions for low-income workers.
If passed, these changes would apply to tax years starting after 2024. This means businesses could see the benefits on their next tax filings.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

May 21, 2025Senate

Read twice and referred to the Committee on Finance.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

May 21, 2025

Introduced in Senate

The bill was officially filed and given a number. It now enters the legislative queue.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Retirement Investment in Small Employers Act

Bill NumberS 1840

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Finance.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(1)

R: 1

Analysis generated by AI. Always verify with official sources.