News

Collins helps propose bill to help military spouses save for retirement

Collins helps propose bill to help military spouses save for retirement

Photo: clipart.com


U.S. 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.

The bill would do this by by expanding access to employer-sponsored retirement plans for spouses of military members.

Hassan, a Democrat, said given how frequently many military families move in service to our country, saving for retirement can often be a difficult task.

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.

To receive the credit, small employers must make military spouses immediately eligible for retirement plan participation within two months.

Latest Headlines

20 minutes ago in Sports, Trending

Former Michigan football coach Sherrone Moore spent night in county jail, hours after his firing

Fresh

Former Michigan football coach Sherrone Moore was still jailed on Thursday morning, according to court records, less than 24 hours after he was fired for what the university said was an "inappropriate relationship with a staff member."

12 hours ago in Local

Home in Wayne Destroyed by Fire

The State Fire Marshal’s Office was brought in to assist with the fire investigation.

13 hours ago in Local

Another Maine School District Doubles Down on Transgender Policy Against State Law

The RSU 24 school board voted not to rescind its policy Tuesday night and approved engagement with an Augusta law firm.

15 hours ago in Local

New York man accused of illegally growing marijuana in Somerset County pleads guilty

A New York man pleaded guilty on Wednesday to committing mortgage fraud to purchase a home in Somerset County and using it as an illegal marijuana growing operation.

15 hours ago in Local

Gorham elementary school to reopen after gas leak

Narragansett Elementary School in Gorham is set to reopen on Thursday after a gas leak.