President Donald Trump has signed an executive order directing federal agencies to make it easier for small businesses to group together to provide their workers with retirement plans.
The White House says the order directs the Labor and Treasury departments to issue regulations to help businesses join together to offer Association Retirement Plans. Administration officials say high costs discourage employers from offering plans like 401(k)s at a time when surveys show workers worried about being able to live comfortably in retirement.
Trump claims that as a result of the order, retirement plans "will now be available to more Americans than ever before."
Before he returns to Washington, Trump will raise money for GOP congressional candidates Rep. Ted Budd and Mark Harris, as well as North Carolina's Republican Party and the National Republican Congressional Committee. The NRCC says the event is expected to draw 300 people and raise $750,000.
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HAPPENING NOW: @realDonaldTrump signing Executive Order to provide new retirement security to American workers and their families pic.twitter.com/L2WgRhSHtJ
— The White House (@WhiteHouse) August 31, 2018
