If you don’t offer a retirement savings option to your employees, you may be required to do so if Congress gets its latest wish.
New legislation is expected to be introduced that would require employers to offer investment retirement accounts to new employees. The employee then would be able to opt out if they chose not to participate.
The idea has the backing of Democrats and the White House, plus the AARP (formerly known as the American Association of Retired Persons). Small-businesses groups, however, are adamantly opposed to the measure.
Source: The Hill