Trump Issues Order To Help Small Businesses Offer Retirement Plans

President Trump signed an executive order today to expand workplace retirement savings. The order directs the departments of labor and treasury to consider changes to make it easier for employers to offer association retirement plans (ARPs) through partnerships with other businesses. According to the White House, these plans reduce the cost for businesses to offer retirement plans by expanding the pool of workers participating. The action is designed to help small businesses and their employees. Currently, only 53% of businesses with 100 employees or fewer offer retirement plans, according to the White House.

 

Survey Reports 51% Of U.S. Employees Are Satisfied With Their Jobs

The Conference Board, an independent business membership and research group, has found that job satisfaction among American employees improved for the seventh consecutive year. The organization surveyed approximately 1,500 U.S. employees with 51% reporting overall satisfaction with their job. Employees were most satisfied with the people in their workplaces as well as their commutes, supervisors and interest in their work, according to the survey. The lowest scoring areas of satisfaction were workload, educational/job training programs, performance review processes, bonus plans and promotion policies. The survey also found job satisfaction improving among lower income households. “In 2019, we forecast unemployment to dip close to 3.5%, a low rate not seen since the 1960s,” Gad Levanon, report author and chief economist for the Conference Board, stated.

 

Incomes Increased In May

Personal income increased 0.3%, or $54.8 billion, in July, the U.S. Bureau of Economic Analysis (BEA) announced yesterday. Disposable personal income increased $52.5 billion (0.3%) and personal consumption expenditures increased $49.3 billion (0.4%). According to the BEA, the increase in personal income reflects gains in wages and salaries, rental income and personal dividend income. The next set of data is scheduled to be released September 28.

 

New Date Set For UPLAN Walking Audit

The walking audit planned in North Long Beach for today at 10 a.m. has been rescheduled for September 6, at 9:30 a.m. at Jordan High School, 6500 Atlantic Ave. The walk will begin there and continue along Atlantic Avenue. The aim is to gather community input on the Uptown Planning Use and Neighborhood Strategy (UPLAN), a plan examining zoning, economic strategies and transportation improvements for the area. Click here for more information.

 

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