New law helps businesses make their employees’ retirement secure

Posted by Kim Chen on March 22nd, 2020

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was recently signed into law as part of a larger spending bill. There are several provisions of interest to small businesses that have a retirement plan for employees or are thinking of adding one. For example, unrelated employers will be able to join together to create a retirement plan. Beginning in 2021, new rules will make it easier to create and maintain a multiple employer plan. In addition, there’s an increased tax credit for small employer retirement plan startup costs. And there’s a new small employer automatic plan enrollment credit. These are only some of the provisions in the law. Contact us to learn more.