New legislation provides approximately $484 billion in additional coronavirus relief funds for small businesses, hospitals, healthcare providers and states.

New sources of financial assistance – including tax credits and forgivable loans – are available for small- and mid-sized businesses affected by the coronavirus crisis.

Small businesses are an essential part of the American economy, employing nearly half of working Americans. Although this is the case, many do not sponsor retirement plans.

Federal and state governments are aiming to increase access to retirement savings plans for Americans. MEPs have been a step in the right direction, but are only one piece of a larger puzzle.