Safe Harbor + SECURE Act = Big changes!
Procrastinators rejoice! The SECURE Act has made some big changes to Safe Harbor plan designs. Historically, plan sponsors had to decide and declare 30 days before the beginning of the plan year if they’d use a safe harbor design. If you’re willing to do a little more, you could have up to a year to retroactively decide to use safe harbor. Read on here.
Start up a 401k and get a tax credit (new from SECURE Act)
There has never been a better time to start a new retirement plan for your employees! New plans are half off or better starting January 1, 2020, thanks to the SECURE Act. Read on for the information on this important tax credit and what it can mean for your business.
SECURE Act is Here and Changing Retirement!
While folks were busy wrapping last-minute holiday presents, a new law passed affecting retirement plans called the SECURE Act, which stands for “Setting Every Community Up for Retirement Enhancement,” and puts into place numerous provisions intended to strengthen retirement security. This is the biggest piece of retirement legislation since the 2006 Pension Protection Act and nerds like us are excited! Here’s an overview of ten of the big provisions.