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Secretary of Labor Thomas E. Perez
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News Release

EBSA News Release: [10/21/2010]
Contact Name: Gloria Della
Phone Number: (202) 693-8666
Release Number: 10-1477-NAT

US Department of Labor and AICPA sponsor website highlighting small business retirement solution

WASHINGTON — The U.S. Department of Labor and the American Institute of Certified Public Accountants today launched a new, interactive website to help small businesses select a retirement plan suitable for their employees.

The website, "Choosing A Retirement Solution for Your Small Business" — available at http://www.choosingaretirementsolution.org/ — was jointly developed and is co-sponsored by the Labor Department's Employee Benefits Security Administration and the AICPA.

"As we observe National Save for Retirement Week, this new website is an important tool to help small businesses provide retirement benefits for their employees," said EBSA Assistant Secretary Phyllis C. Borzi. "Having the right plan will give small business owners a way to save for their own retirement while also helping their employees achieve a more secure retirement."

"The economic turmoil of the past two years has underscored the importance of sound retirement plans for employees of small businesses," said Jim Metzler, AICPA's vice president of small firm interests. "The Department of Labor and the CPA profession have created a powerful alliance to help a vital component of our capital-market system."

The website introduces employers to a number of retirement plan options from a simpler individual retirement account-based plan to the more sophisticated automatic enrollment 401(k) plan. It describes the advantages and features of various retirement plans. Even businesses with as few as two employees will find options using this new online tool.

For additional resources on retirement plan options, visit the EBSA website at http://www.dol.gov/ebsa/.