American Veterinary Medical Association (AVMA) President Dr. John de Jong released the following statement in response to today's passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (H.R. 1994) in the U.S. House of Representatives. This bipartisan legislation expands potential retirement opportunities for small businesses by allowing for the establishment of multi-employer plans, which enable employers to band together to improve retirement offerings.
"For veterinarians, retirement planning can be a challenge. Many veterinarians are small business owners or work at a small practice, which means they typically don't have access to the same retirement plans offered at larger companies. Today's passage of retirement legislation is an exciting step toward addressing this challenge and increasing retirement options for small businesses. AVMA is looking forward to working with lawmakers to explore how this legislation can help expand retirement opportunities for veterinarians."