Improving Access to Retirement Savings Act

The Improving Access to Retirement Savings Act aims to make it easier and more affordable for small businesses and non-profits to offer retirement plans to their employees. The bill allows organizations that use 403(b) plans—typically schools, charities, and churches—to join "multiple employer plans," which reduces administrative costs by sharing them with other employers. Additionally, it provides tax credits to help cover the costs of starting these plans and creates a "safe harbor" window for employers to fix administrative errors in automatic enrollment without facing heavy penalties. For workers, these changes are intended to increase the availability of workplace retirement accounts and ensure that automatic savings features function more reliably.