Retirement security

Healthy Business, Healthy Bottom Line - West Suburban Chicago Toolkit

Introduction: Build your wealth and secure your health

As a small business owner, we know you wear many hats—from running the day-to-day operations of your business, to managing employees, building a brand and much more. And for aspiring entrepreneurs, this can mean juggling a traditional job while navigating the ins and outs of starting a new venture. One thing many entrepreneurs feel unequipped to deal while starting or running a business is how to handle business finances and maintain health. 

2018 Year in Review

We are proud of our work this year serving small businesses and independent entrepreneurs. As we prepare to expand this work in 2019, we’re taking time to reflect on our successes over the last year. 

This was certainly a year of expansion for Small Business Majority. We worked hard to bring new resources to underserved communities and supported new policies that will benefit small business owners. Here are six of our biggest accomplishments in 2018: 

CalSavers Retirement Savings Program: What Small Businesses Need to Know

The CalSavers Retirement Savings Program will be a portable workplace retirement savings program for private sector workers whose employers are unable to offer their employees a way to save for retirement. CalSavers will be run by the state and funded by modest employee contributions, so it involves minimal requirements for employers. Below is an overview of what small businesses need to know about the program.

Washington Small Business Retirement Marketplace: What Small Businesses Need to Know

The Washington Small Business Retirement Marketplace, launching on January 1, 2017, will help bring retirement parity to small businesses that struggle to offer retirement benefits to their employees. In addition to helping small businesses better compete for and retain talented workers, this program will also benefit the nearly 1.5 million Washington workers who do not have access to a retirement plan through their employer. Below is an overview of what small businesses need to know about the program so they can take advantage of it.

Illinois Secure Choice Savings Program

The Illinois Secure Choice Savings Program, signed into law January 2015, will help small businesses that struggle to offer retirement benefits to their employees and provide retirement security to the 2.5 million Illinoisans who do not have access to an employment-based retirement plan. Below is an overview of what small businesses need to know about the program.

Small Businesses Believe Illinois Needs to do More to Help Workers Prepare for Retirement, Support Legislation Doing So

The economy is improving, but Illinois small business owners and their employees are facing another financial hurdle: retirement security. The U.S. currently suffers from a retirement savings gap of more than $6 trillion, and more than 38 million households do not have any retirement savings at all. Illinois small business owners and their workers are no exception.

Opinion Poll: Millennials Identify Student Debt, Retirement Savings as Barriers to Entrepreneurship

Scientific opinion polling found the majority of millennials who own a business or would like to start one at some point say student debt and a lack of retirement savings plan are barriers to entrepreneurship.

In every aspect of building a thriving society and economy—from addressing long-term unemployment to providing high quality jobs—American entrepreneurship represents a pathway to success, particularly among young Americans who struggled to get their foot in the door during the Great Recession...

Two-Thirds of California Small Business Owners Support Retirement Savings Program

A scientific opinion poll released by AARP and Small Business Majority shows a strong majority of California small business owners support the creation of a voluntary, portable retirement savings program that would allow employees to more easily save for their financial future. What's more, small business owners believe offering such a program to their employees would give their business a competitive edge.

Small Businesses Believe Washington Needs to do More to Help Workers Prepare for Retirement, Support Legislation Doing So

Though the U.S. is slowly recovering from the effects of the Great Recession, Washington small business owners and their employees are facing another financial crisis: retirement security. A survey by the American Association of Retired Persons (AARP) found a quarter of residents between the ages of 45-64 in the Evergreen State have less than $25,000 in savings, and additional research found nearly three in five middle class workers in the state can expect to outlive their retirement savings.  Washington small business owners and their workers are no exception.

Small businesses, freelancers need novel retirement options

Recent scientific opinion polling reveals small business and freelancers need more flexible retirement options. The poll found small employers struggle to offer retirement benefits, and are increasingly turning to independent workers to meet their needs. Additionally, small employers overwhelmingly support state-administered retirement savings plans and other policies that would make it easier for them to offer retirement benefits.