Executive Order 13847: Strengthening Retirement Security in America
President Trump signed Executive Order 13847 on August 31, 2018, directing the Department of Labor to expand access to retirement savings plans for small businesses and self-employed workers through Association Retirement Accounts (ARAs). The order simplified regulations to allow small employers to pool resources and offer 401(k)-style plans with reduced compliance costs. The confirmed direct effect was increased eligibility for small business employees to access employer-sponsored retirement savings options previously available primarily to larger corporations.