Trump Wants Retirement Saving Rules Expanded for Small Companies
- He will urge agencies to eliminate hurdles to offering 401ks
- Treasury also to review required minimum 401k distributions
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President Donald Trump plans to issue an executive order Friday directing his administration to make it easier for small businesses to band together to set up retirement-savings plans.
The order, to be signed in North Carolina ahead of the Labor Day weekend, is designed to cut some of the administrative burdens and costs that can prevent smaller employers from offering 401k plans for their workers, administration officials said on a Thursday conference call with reporters. Trump is asking the Labor and Treasury Departments to study the issue and offer new rules.