Small business owners: Big opportunities to save for retirement

Small businesses are finally getting better retirement plan access. Historically, only 55% of firms with under 50 employees offered plans, leaving workers with significantly less saved.

This is changing due to new legislation and product innovation. The SECURE 2.0 Act offers substantial tax credits for setup costs, with additional incentives for auto-enrollment and employer contributions. Bundled, off-the-shelf solutions also ease administrative burdens. Watch for state mandates, as 17 states now require businesses to establish plans.