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Retirement
New IRA would target small businesses without employer-sponsored retirement plans
New IRA would target small businesses without employer-sponsored retirement plans

Legg Mason Inc. and two partners will begin offering a new retirement product aimed at small businesses and their employees. The EZ-IRA is designed to overcome hurdles that limited small-business access to such retirement investment vehicles, leaving many workers unprepared for retirement. Small-business owners often balk at the expense and liability of offering their employees a retirement plan, and rarely do employees without an employer-sponsored plan sign up for one on their own. Meanwhile, few financial firms offer plans for small businesses because they tend to be expensive to manage. Legg Mason organized a roundtable discussion Monday about small-business retirement issues at the...

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