Employer Tax Credits, Part 2
The SECURE 2.0 Act modifies one small-employer credit and creates another. These credits may make establishing and contributing to a plan much more attractive. Ultimately, these credits may make it possible for employers to adopt and run a plan with no out-of-pocket expense for the first few years that a plan is in place.
SECURE 2.0 Requires New Plans to Contain Automatic Enrollment Feature
Credible studies have concluded that employers who automatically enroll plan participants into a retirement plan help place them on a lifetime path to meaningful savings.
IRS Provides IRA Reporting Relief in Light of SECURE 2.0 Act’s RMD Age Change
On March 7, The IRS has issued Notice 2023-23, guidance that addresses required minimum distribution (RMD) reporting by IRA trustees, custodians, and issuers.
Improved Coverage for Long-Term, Part-Time Employees
The SECURE 2.0 Act has shortened the time necessary to allow part time workers access to 401(k) plans.
Military Spouse Retirement Plan Eligibility Credit for Small Employers
The SECURE 2.0 Act gives certain employers a general business tax credit for immediately including military spouses in their defined contribution plan.
SECURE 2.0 Act Changes RMD Rules
On December 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, which included the SECURE 2.0 Act.
Defined Benefit/Cash Balance Plan Key Priorities
Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus.
Defined Contribution Plan Key Priorities
Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus.
IRA / SEP / SIMPLE Key Priorities
Everyone deserves to feel financially secure. We provide retirement savings solutions through a dynamic network of leading third party administrators (TPAs) from across the nation as a dedicated organization backed by the strength and security of Ascensus.
SECURE 2.0 Employer Tax Credits
This credit applies to qualified plans (defined contribution and defined benefit plans under IRC Sec. 401(a) and 403(a)), and SEP and SIMPLE plans.
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