What does Preamble of Small Nonprofit Retirement Security Act of 2025 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would extend the credit for small employer pension plan startup costs and the retirement auto-enrollment credit to tax-exempt eligible small employers.

What does SHORT TITLE. of Small Nonprofit Retirement Security Act of 2025 do?

This bill is formally titled the Small Nonprofit Retirement Security Act of 2025.

What does RETIREMENT CREDITS MADE AVAILABLE TO TAX-EXEMPT SMALL of Small Nonprofit Retirement Security Act of 2025 do?

This section amends sections 45E, 45T, and 3111 of the Internal Revenue Code of 1986. It establishes credits for tax-exempt eligible employers related to small employer pension plan startup costs and retirement auto-enrollment. The credit amount is the lesser of the credit determined without regard to the subsection or the amount of payroll tax paid by the employer. A 'tax-exempt eligible employer' is defined as an employer described in section 501(c) and exempt from taxation under section 501(a). The amendments apply to taxable years beginning after December 31, 2024. Funds are appropriated to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund to offset revenue reductions resulting from the credits.

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Small Nonprofit Retirement Security Act of 2025

Last updated: 7/21/2025 · Introduced: 7/21/2025

Author: Vern Buchanan (R-FL)

TL;DR (AI)

This bill extends tax credits for small, tax-exempt organizations to help cover the costs of starting pension plans and automatically enrolling employees in retirement savings programs.
Eligible employers can receive credits based on their payroll tax payments, up to a certain amount.
The bill allocates funds to federal trust funds to compensate for any reduction in tax revenue resulting from these credits.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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