RISE & SHINE Act

The Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act aims to make it easier for Americans to save for retirement and access their funds during emergencies. The bill allows small businesses and nonprofits to band together to offer lower-cost retirement plans and permits employers to offer linked emergency savings accounts that employees can withdraw from tax-free for urgent needs. Additionally, it simplifies the paperwork participants receive and expands retirement plan eligibility for part-time workers who have consistently logged at least 500 hours per year.