A bill to amend the Internal Revenue Code of 1986 to provide a credit for re-enrollment provisions in retirement plans of small employers.

Bill 118 s 2512, also known as the "Small Employer Retirement Re-enrollment Credit Act," aims to amend the Internal Revenue Code of 1986 to offer a tax credit for small employers who re-enroll their employees in retirement plans. The bill is designed to encourage small businesses to provide retirement benefits to their employees by offering a financial incentive.

Under the proposed legislation, small employers with fewer than 100 employees who re-enroll their workers in retirement plans would be eligible for a tax credit. The credit would be equal to 50% of the costs incurred by the employer in implementing the re-enrollment provisions, up to a maximum of $500 per employee.

The bill is intended to help small businesses attract and retain employees by offering retirement benefits, which can be a valuable tool for recruiting and retaining top talent. By providing a tax credit to offset the costs of re-enrolling employees in retirement plans, the legislation aims to make it easier for small employers to offer these important benefits. Overall, the Small Employer Retirement Re-enrollment Credit Act seeks to promote retirement security for American workers by incentivizing small businesses to provide retirement benefits to their employees. The bill is currently under consideration in Congress and has the potential to have a positive impact on both small businesses and their employees.