What does Preamble of Retirement Investment in Small Employers Act do?

This bill, formally titled 'To amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit,' aims to amend the Internal Revenue Code of 1986.

What does SHORT TITLE. of Retirement Investment in Small Employers Act do?

This bill is formally titled the Retirement Investment in Small Employers Act.

What does MICROEMPLOYER PENSION PLAN STARTUP CREDIT. of Retirement Investment in Small Employers Act do?

This section amends Section 45E of the Internal Revenue Code of 1986 to provide a credit for microemployers. The amendment increases the percentage applied under subsection (a) of Section 45E from 50 percent to 100 percent for qualified microemployers. It also increases the dollar amount under subsection (b)(1)(A) of Section 45E from $500 to $2,500 for qualified microemployers. A 'qualified microemployer' is defined as an employer that would be an eligible employer if '10' were substituted for '100' in section 408(p)(2)(C)(i)(I), and whose plan accepts matching contributions under section 6433. The amendment applies to taxable years beginning after December 31, 2024.

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Retirement Investment in Small Employers Act

Last updated: 5/21/2025 · Introduced: 5/21/2025

Author: Maggie Hassan (D-NH)

TL;DR (AI)

This bill increases the tax credit for microemployers establishing pension plans from 50% to 100% of qualified contributions.
The maximum dollar amount of the tax credit for qualified microemployers is increased from $500 to $2,500.
A 'qualified microemployer' is defined as an employer with 10 or fewer employees who offers matching contributions in their pension plan.

119th Congressin committeeHR. 8837(In Committee)Official page

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Other Sections

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

3 sections

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