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S. 1840

U.S. Senate•In Senate Committee

Summary

S. 1840, the Retirement Investment in Small Employers Act, was introduced in the Senate on May 21, 2025 by Sen. Margaret Hassan (D) with 1 co-sponsor. It was referred to Finance, and last saw action on May 21, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 1840 has 1 co-sponsor.

sb1840/introduced-in-senate.txt
119 S1840 IS: Retirement Investment in Small Employers Act
 U.S. Senate
 2025-05-21
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
  II
  119th CONGRESS
  1st Session
  S. 1840
  IN THE SENATE OF THE UNITED STATES
  May 21, 2025
  Ms. Hassan  (for herself and  Mr. Budd ) introduced the following bill; which was
  read twice and referred to the  Committee on
  Finance
  A BILL
To amend the Internal Revenue Code of 1986 to provide for a microemployer
  pension plan startup credit.
1.
Short title
This Act may be cited as the   Retirement Investment in Small Employers Act  .
2.
Microemployer pension plan startup credit
(a)
In general
 Section 45E  of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
(g)
Credit for microemployers
(1)
In general
In the case of a qualified microemployer—
(A)
subsection (a) shall be applied by substituting  100 percent  for  50 percent , and
(B)
subsection (b)(1) shall be applied by substituting  $2,500  for  $500  in subparagraph (A) thereof.
(2)
Qualified microemployer
For purposes of this subsection, the term  qualified microemployer  means an employer which would be an eligible employer if section 408(p)(2)(C)(i)(I) were applied by substituting  10  for  100 , but only if the eligible employer plan established or maintained by such employer, under the terms of the plan, accepts payment of the matching contribution under section 6433.
  .
(b)
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2024.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-05-21
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in Senate May 21, 2025

sb1840/introduced-in-senate.md

Shown Here:
Introduced in Senate (05/21/2025)

Retirement Investment in Small Employers Act

This bill increases the federal tax credit limit for startup costs incurred by certain small businesses to establish a qualified retirement plan.

As background, a federal tax credit is allowed for 50% of the costs incurred by a small business with no more than 100 qualified employees (or 100% of such costs for a small business with no more than 50 qualified employees) to establish a qualified retirement plan. Under current law, the tax credit is limited to the greater of (1) $500, or (2) the lesser of $250 per eligible employee or $5,000. (Additional limits may apply.)

The bill increases the limit on the tax credit for retirement plan startup costs for employers with no more than 10 employees to the greater of (1) $2,500, or (2) the lesser of $250 per employee or $5,000.

For the increased tax credit limit to apply, the retirement plan established by the business must accept payment of the matching contribution under the Saver’s Match program. Under the Saver's Match program, beginning in 2027, individuals that meet certain requirements are eligible to have a federal matching contribution of up to $1,000 (or $2,000 for married joint filers) deposited into a qualified retirement account.

Sponsors

Sen. Margaret Hassan (D) sponsors S. 1840, and 1 member has co-sponsored it from the day it was introduced.

Committees

S. 1840 went before 1 committee: Finance.

Finance
Finance
Referred To · May 21, 2025 · 902 Bills

Actions

S. 1840 has taken 2 actions since May 21, 2025.

ChamberAction
May 21, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
May 21, 2025
—
Introduced in Senate

Votes

S. 1840 has not gone to a roll call.

1 bill is related to S. 1840.

Titles

S. 1840 goes by 3 titles, 1 of them short titles.

  • Retirement Investment in Small Employers Act — Display Title
  • Retirement Investment in Small Employers Act — Short Title(s) as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit. — Official Title as Introduced

Lobbying

7 clients hired 7 firms and 54 registered lobbyists who named S. 1840 in 18 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Retirement, Taxation/Internal Revenue Code, Financial Institutions/Investments/Securities, Insurance, Budget/Appropriations, Health Issues, Consumer Issues/Safety/Products, Economics/Economic Development.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
PRINCIPAL FINANCIAL GROUP—District of Columbia15—
PAYCHEXPayroll, HR, Benefits and InsuranceDistrict of Columbia14$150K
AARP—District of Columbia12—
AMERICAN COUNCIL OF LIFE INSURERS—District of Columbia12—
AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIES—Virginia12—
AMERIPRISE FINANCIAL, INC.—District of Columbia12—
AMERICAN RETIREMENT ASSOCIATIONRetirement AssociationVirginia11$60K

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
PRINCIPAL FINANCIAL GROUP15—
VAN SCOYOC ASSOCIATES14$150K
AARP12—
AMERICAN COUNCIL OF LIFE INSURERS12—
AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIES12—
AMERIPRISE FINANCIAL, INC.12—
CGCN GROUP, LLC11$60K

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 54.

LobbyistFirmsClientsFilings
ANNE GLEASON115
CHIRSTOPHER PAYNE115
ERIC SHIMP115
LANCE SCHOENING115
RACHEL STANLEY NGUYEN115
SAMANTHA FORD114
THADDEUS INGE114
ALLISON WIELOBOB112
ANDREW DONNELLY112
ANDREW REMO112
ANDREW SCHOLNICK112
APRIL CANTER112
BEVERLY GILYARD112
BLAKE KELLY112
BRENDAN ROSE112
BRIAN GRAFF112
CHAD MULLEN112
CHRISTOPHER PAYBE112
CLARK FLYNT-BARR112
CORALETTE HANNON112

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
AARPAARP2026 first_quarter$3.8M1st Quarter - Report
AARPAARP2025 third_quarter$3.8M3rd Quarter - Report
AMERICAN COUNCIL OF LIFE INSURERSAMERICAN COUNCIL OF LIFE INSURERS2026 second_quarter$1.1M2nd Quarter - Amendme…
AMERICAN COUNCIL OF LIFE INSURERSAMERICAN COUNCIL OF LIFE INSURERS2026 second_quarter$1.1M2nd Quarter - Report
PRINCIPAL FINANCIAL GROUPPRINCIPAL FINANCIAL GROUP2026 first_quarter$970K1st Quarter - Report
PRINCIPAL FINANCIAL GROUPPRINCIPAL FINANCIAL GROUP2025 fourth_quarter$509K4th Quarter - Report
PRINCIPAL FINANCIAL GROUPPRINCIPAL FINANCIAL GROUP2025 third_quarter$459K3rd Quarter - Report
AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIESAMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIES2026 second_quarter$428.2K2nd Quarter - Report
PRINCIPAL FINANCIAL GROUPPRINCIPAL FINANCIAL GROUP2025 second_quarter$414K2nd Quarter - Report
AMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIESAMERICAN SOCIETY OF PENSION PROFESSIONALS & ACTUARIES2025 fourth_quarter$401.8K4th Quarter - Report
PRINCIPAL FINANCIAL GROUPPRINCIPAL FINANCIAL GROUP2026 second_quarter$401K2nd Quarter - Report
AMERIPRISE FINANCIAL, INC.AMERIPRISE FINANCIAL, INC.2025 third_quarter$320K3rd Quarter - Report
AMERIPRISE FINANCIAL, INC.AMERIPRISE FINANCIAL, INC.2025 second_quarter$230K2nd Quarter - Report
AMERICAN RETIREMENT ASSOCIATIONCGCN GROUP, LLC2026 second_quarter$60K2nd Quarter - Report
PAYCHEXVAN SCOYOC ASSOCIATES2026 second_quarter$40K2nd Quarter - Report
PAYCHEXVAN SCOYOC ASSOCIATES2025 fourth_quarter$40K4th Quarter - Report
PAYCHEXVAN SCOYOC ASSOCIATES2025 third_quarter$40K3rd Quarter - Report
PAYCHEXVAN SCOYOC ASSOCIATES2026 first_quarter$30K1st Quarter - Report

Classification

The Congressional Research Service files S. 1840 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 1840’s is Taxation.

s1840/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com