In response to the coronavirus pandemic wreaking havoc on the US economy, the Internal Revenue Service (IRS) earlier this year implemented an easing of the rules governing Individual Retirement Accounts and various other (401k, 403, 403b, etc.) retirement plans. This week, the agency announced the inflation-adjusted figures and extended many of the enhanced contribution limits…
Read More »The U.S. Department of Labor unveiled its final rule this past Monday on multiple employer plans (MEPs), expanding the possibility of smaller businesses creating and using them as a vehicle to encourage retirement savings by employees. The new rule, which goes into effect on September 30 of this year, will allow businesses or associations with…
Read More »California has again gone one better in the mandate department as the Golden State now requires employers with at least five employees to offer access to a retirement plan for their employees. Under the CalSavers law, covered employers that do not already offer an employer-sponsored retirement plan, will be required to begin offering a retirement…
Read More »With paid sick leave plans being mandated by local and state governments across the country on the heels of local minimum wage hikes and predictive scheduling mandates gaining in popularity, could retirement plans be the next mandate foisted upon private business? California became the third state in the nation to create a pilot program for…
Read More »It’s been over six years since the 2700-page Affordable Care Act (ObamaCare) was rammed down the throats of Americans (over 60% of whom were opposed to its passage), so what to do for an encore? President Obama now wants to mandate that small business next provide retirement plans for all employees – full and part-time. …
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