[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1840 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 1840

      To amend the Internal Revenue Code of 1986 to provide for a 
               microemployer pension plan startup credit.


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                   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

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                                 A BILL


 
      To amend the Internal Revenue Code of 1986 to provide for a 
               microemployer pension plan startup credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Retirement Investment in Small 
Employers Act''.

SEC. 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.
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