If you're an entrepreneur or small business owner, take advantage of SECURE 2.0 & MEPs.
One of the main goals of SECURE 2.0 is to make it easier for small businesses to offer retirement plans to their employees. This includes:
One of the main goals of SECURE 2.0 is to make it easier for small businesses to offer retirement plans to their employees. This includes:
This includes: creating new tax credits to incentivize small businesses to set up plans and offering new types of plans designed specifically for small businesses.
SECURE 2.0 also includes:
SECURE 2.0 also includes:
SECURE 2.0 also includes provisions to improve access to retirement plans for part-time and gig economy workers, as well as provisions to encourage plan participation and increase the portability of retirement savings.
One of the main provisions of SECURE 2.0 is the creation of:
One of the main provisions of SECURE 2.0 is the creation of:
One of the main provisions of SECURE 2.0 is the creation of a new type of retirement plan called a "Multiple Employer Plan," or MEP.
MEPs allow small businesses to pool their resources and offer a retirement plan to their employees as a group,
MEPs allow small businesses to pool their resources and offer a retirement plan to their employees as a group,
rather than each business setting up its own plan.
This can be a more cost-effective and administratively efficient option for small businesses that might not have the resources to set up and maintain their own plan.
SECURE 2.0 also includes:
This can be a more cost-effective and administratively efficient option for small businesses that might not have the resources to set up and maintain their own plan.
SECURE 2.0 also includes:
SECURE 2.0 also includes a number of tax credits to encourage small businesses to set up retirement plans for their employees.
For example, there is a credit of up to $5,000 per year for small businesses that set up a new retirement plan or make contributions to an existing plan
For example, there is a credit of up to $5,000 per year for small businesses that set up a new retirement plan or make contributions to an existing plan
There are also credits available for small businesses that adopt automatic enrollment in their retirement plan and for those that offer a plan to long-term, part-time workers.
SECURE 2.0 is short for "Setting Every Community Up for Retirement Enhancement Act of 2020."
SECURE 2.0 is short for "Setting Every Community Up for Retirement Enhancement Act of 2020."
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