H.R.8837

The Retirement Investment in Small Employers Act provides a tax credit for microemployers establishing pension plans.

The Retirement Investment in Small Employers Act, also known as the RISE Act, amends the Internal Revenue Code to introduce a tax credit for microemployers establishing pension plans. This credit applies to employers with 10 or fewer employees, allowing them to claim a credit of up to 100% of their startup costs, up to $2,500. The credit is available for the first three years of the plan's operation and cannot be claimed if the employer has previously established a qualified employer plan for the same employees.