Retiring with some financial security may be easier for the employees of small businesses. Ian Cope reports. (TRT: 45) CLICK TO DOWNLOAD
Small businesses often don’t offer retirement plans for their employees, in many cases because the cost of setting up the plans is prohibitive. That may change under a bill sponsored by Issaquah Sen. Mark Mullet, a small business owner himself. Mullet’s bill would allow the state to partner with financial service companies to help the employees of small businesses set up retirement plans. Mullet says if people retire with some financial backing, it helps both them and the state.
Sen. Mullet (TRT: 12) CLICK TO DOWNLOAD: “It’s a lot easier to keep your cost of running the government low if people turn 60 or 65 and have some money saved up. Well, that’s our vested interest in getting involved here to make it easier for people to save.”
Mullet serves as the vice-chair of the Senate Financial Institutions, Housing and Insurance Committee, which held a public hearing on his bill on Thursday.