New Retirement Plan Option May Be on Horizon

Momentum to improve access to retirement plans has increased in recent years, mostly at the state level. Now, there's the possibility of opening up a new kind of retirement plan to all workers, particularly small-business employees, thanks to a boost from Washington.

An executive order signed recently by President Trump calls on the Labor Department to explore a path forward for multiple employer plans, or MEPs, which allow unaffiliated small. The idea is to make it easier for small businesses to make retirement savings plans available to more workers, since a joint effort could reduce some of the cost and complexity involved.