Small Businesses Are Driving Retirement Security Forward — And SECURE Made It Possible
Feb 25, 2026
Small Businesses Are Driving Retirement Security Forward — And SECURE Made It Possible
Feb 25, 2026
A recent Wall Street Journal article highlighted an encouraging trend: millions more workers at small businesses now have access to 401(k)-style retirement plans. This momentum isn’t happening by accident. It’s the direct result of sound policy choices — especially the success of the SECURE Act — and the rapid growth of pooled employer plans (PEPs), which are transforming access to workplace savings.
Since the SECURE Act was enacted in 2019, nearly six million additional small business employees have gained the ability to save through a workplace plan. That’s remarkable progress in a segment of the economy that has historically struggled with the cost, administrative burden, and complexity of offering retirement benefits.
A key provision in SECURE enabled the creation of PEPs that are proving to be one of the most effective tools in closing this gap. By allowing unrelated employers to join together under a single professionally managed plan, PEPs can reduce costs, streamline compliance, and give small employers the kind of scale that was once available only to large companies. Many small businesses joining PEPs today are offering a retirement plan for the very first time.
This surge in access reflects what the life insurance industry has long championed: when policymakers open the door, the private sector stands ready with solutions that expand financial security. SECURE and SECURE 2.0 both strengthened the foundation for that progress by modernizing rules, enhancing tax incentives, and removing barriers that kept small employers on the sidelines.
But even with the encouraging gains outlined in the WSJ story, more work remains. Millions of American workers — especially in small firms, lower income communities, and historically underserved populations — still lack access to a workplace savings plan. The growth of PEPs shows the marketplace is ready. Policymakers can build on this momentum by continuing to advance measures that broaden access and simplify plan sponsorship.
The bottom line: the path forward is clear. With the right policies, we can ensure every worker — no matter where they’re employed — has the opportunity to save for a secure retirement.
David Chavern
David Chavern is President and CEO of the American Council of Life Insurers (ACLI) whose mission is to provide financial certainty to Americans regardless of where and how they work, their life stage, or the economic status of their household. ACLI’s 275 member companies represent 94 percent of industry assets and provide financial security products and services to 90 million families.
