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Chamber groups support retirement legislation

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A group of Iowa chamber of commerce officials sent a joint letter to U.S. Sens. Joni Ernst and Chuck Grassley supporting the SECURE Act, which among other things makes it easier for small businesses to offer 401(k) retirement plans. The legislation has passed the House of Representatives and is awaiting a slot on the Senate debate calendar. The bill would allow small businesses to team up in pooled plans, reducing costs. It also would allow automatic enrollment credits of up to $500 per year to offset costs of starting a retirement plan. Among the 10 organizations signing the letter were the Iowa Chamber of Commerce Executives and the chambers in Ames and Boone.

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