When retirement policymakers sought to incentivize small businesses to begin offering retirement plans in an effort to help close the coverage gap, they did so in part by creating greatly expanded federal tax credits that would offset their cost in providing those plans.

But research has found fewer than 6% of eligible employers are properly claiming the tax credit—and that’s a problem that doesn’t sit well with retirement plan advisor Will Hackler, AIF, the “401(k) Fix-It Guy” who is the Managing Partner at Integrated Pension Services. Hackler says there’s a real awareness problem regarding the tax credit, and that advisors need to step in to make sure eligible firms (and their tax-filing CPAs) know about and take advantage of a program intended specifically for them.

In this episode, Hackler explains the tax credit, the problem and potential solutions.