NAHB supports retirement security plan
President Donald Trump is expected to sign an executive order that will provide small businesses with an easier road when it comes to providing employees a retirement plan.
Trump is slated to direct the Labor and Treasury departments to issue new regulations, allowing businesses to come together and offer association retirement plans. According to the Trump Administration, high costs are discouraging employers from offering plans like 401(k).
The National Association of Home Builders (NAHB) said it applauds the effort and believes the move will help small businesses provide retirement plans for their employees.
“NAHB commends President Trump for making retirement security an important national priority. This need is particularly acute in the residential construction sector, where most home building firms are small businesses with less than 10 employees,” said Jerry Howard, CEO of the NAHB.
“By continuing to follow through on his pledge to reduce burdensome regulations, the president is taking an important step forward for American workers. The executive order removes needless regulatory barriers that will help more trade groups and small businesses to provide workplace retirement plans for their employees,” Howard added.
Trump is slated to direct the Labor and Treasury departments to issue new regulations, allowing businesses to come together and offer association retirement plans. According to the Trump Administration, high costs are discouraging employers from offering plans like 401(k).
The National Association of Home Builders (NAHB) said it applauds the effort and believes the move will help small businesses provide retirement plans for their employees.
“NAHB commends President Trump for making retirement security an important national priority. This need is particularly acute in the residential construction sector, where most home building firms are small businesses with less than 10 employees,” said Jerry Howard, CEO of the NAHB.
“By continuing to follow through on his pledge to reduce burdensome regulations, the president is taking an important step forward for American workers. The executive order removes needless regulatory barriers that will help more trade groups and small businesses to provide workplace retirement plans for their employees,” Howard added.