The U.S. Chamber of Commerce today released the following statement on the White House's announcement of an executive order to expand retirement savings:
“Today's White House directive will expand retirement security for millions of workers in small businesses," said U.S. Chamber of Commerce Executive Director of Retirement Policy Aliya Wong. "The U.S. Chamber has long pushed for these changes, which will encourage more small businesses and working owners to offer retirement plans. Allowing one or more unrelated employers to pool resources will enhance opportunities for more cost-effective retirement programs that would have either been too costly or administratively burdensome for employers to provide individually. Businesses will now be better equipped to compete for talent, and workers will have greater retirement security.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
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