{"id":975,"date":"2015-03-11T16:14:47","date_gmt":"2015-03-12T00:14:47","guid":{"rendered":"http:\/\/sdc.wastateleg.org\/mullet\/?p=867"},"modified":"2020-09-22T10:19:28","modified_gmt":"2020-09-22T17:19:28","slug":"senate-passes-mullet-bill-to-create-retirement-savings-plans","status":"publish","type":"post","link":"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/2015\/03\/11\/senate-passes-mullet-bill-to-create-retirement-savings-plans\/","title":{"rendered":"Senate passes Mullet bill to create retirement savings plans"},"content":{"rendered":"<p>Small businesses would be able to offer no-cost savings plans to help employees at small businesses save for retirement, under legislation passed today by the Senate on a 29-20 vote.<\/p>\n<p><a href=\"https:\/\/app.leg.wa.gov\/DLR\/billsummary\/default.aspx?Bill=5826&amp;year=2015\">Senate Bill 5826<\/a>,\u201d sponsored by Sen. Mark Mullet, D-Issaquah, now goes to the House for consideration there.<\/p>\n<p>\u201cI know many small business owners, like me, would like to be able to help their employees save for retirement,\u201d Mullet said. \u201cUnfortunately for many small businesses, however, the cost and administrative burden required by existing plans makes them unaffordable.\u201d<\/p>\n<p>Mullet\u2019s legislation would create simple, affordable retirement savings plans run entirely by the private sector at no cost to the employer and minimal cost to the employee. An earlier version of Mullet\u2019s legislation, introduced in the 2014 session, would have had the state provide the plans. This bill relies entirely on the private sector for the plans.<\/p>\n<p>\u201cThis legislation will help employees save for retirement, which is critical to their ability to make ends meet in their later years,\u201d Mullet said. \u201cIt will reduce the extent of the need and cost of safety-net programs for retirees who lack savings, it will enable small businesses to help their employees save toward retirement, and it will make our communities stronger.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Small businesses would be able to offer no-cost savings plans to help employees at small businesses save for retirement, under legislation passed today by the Senate on a 29-20 vote. Senate Bill 5826,\u201d sponsored by Sen. Mark Mullet, D-Issaquah, now goes to the House for consideration there. \u201cI know many small business owners, like me, would like to be able to help their employees save for retirement,\u201d Mullet said. \u201cUnfortunately for many small businesses, however, the cost and administrative burden required by existing plans makes them unaffordable.\u201d Mullet\u2019s legislation would create simple, affordable retirement savings plans run entirely by the&#8230;<\/p>\n","protected":false},"author":16,"featured_media":1865,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"disable_featured_image":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Senate passes Mullet bill to create retirement savings plans - Mark Mullet Archive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/2015\/03\/11\/senate-passes-mullet-bill-to-create-retirement-savings-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate passes Mullet bill to create retirement savings plans - Mark Mullet Archive\" \/>\n<meta property=\"og:description\" content=\"Small businesses would be able to offer no-cost savings plans to help employees at small businesses save for retirement, under legislation passed today by the Senate on a 29-20 vote. Senate Bill 5826,\u201d sponsored by Sen. Mark Mullet, D-Issaquah, now goes to the House for consideration there. \u201cI know many small business owners, like me, would like to be able to help their employees save for retirement,\u201d Mullet said. \u201cUnfortunately for many small businesses, however, the cost and administrative burden required by existing plans makes them unaffordable.\u201d Mullet\u2019s legislation would create simple, affordable retirement savings plans run entirely by the...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/2015\/03\/11\/senate-passes-mullet-bill-to-create-retirement-savings-plans\/\" \/>\n<meta property=\"og:site_name\" content=\"Mark Mullet Archive\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-12T00:14:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-22T17:19:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/wp-content\/uploads\/sites\/44\/2020\/08\/Featured-Image-2-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1970\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"sdcadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sdcadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/2015\/03\/11\/senate-passes-mullet-bill-to-create-retirement-savings-plans\/\",\"url\":\"https:\/\/senatedemocrats.wa.gov\/mulletarchive\/2015\/03\/11\/senate-passes-mullet-bill-to-create-retirement-savings-plans\/\",\"name\":\"Senate passes Mullet bill to create retirement savings plans - 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