Bill would help military spouses save for retirement
April 24, 2021 GMT
CONCORD, N.H. (AP) — US. Sens. Maggie Hassan of New Hampshire and Susan Collins of Maine are part of a group that’s introduced a bill that would help spouses of active duty military service members save for retirement by expanding access to employer-sponsored retirement plans.
“Given how frequently many military families move in service to our country, saving for retirement can often be a difficult task,” Hassan, a Democrat, said in a statement Wednesday.
Under the bill, businesses with 100 employees or fewer would be eligible for a tax credit of up to $500 per year per military spouse. The credit would be available for three years per spouse.