If the galloping stock market isn’t enough incentive to get into a 401(k) retirement plan, President Trump’s Secure Act, which went into effect Jan. 1, 2020, offers another perk.
\nThe Act gives a tax credit to employers that automatically enroll workers into their retirement plans.
\nStudies show people are more likely to stay in a plan if they are auto-enrolled, rather than have to do it themselves, according to Business Insider.
\nUnder the Secure Act, small employers will get a tax credit to offset the costs of starting a 401(k) plan or Simple IRA plan with auto-enrollment, on top of the start-up credit they already receive.
\nStates have created their own automatic-IRA programs, where companies without a retirement plan can or must provide one for their employees.
\nEnrolling in a 401(k) or IRA vastly expands money in retirement. <\/p>\n","protected":false},"excerpt":{"rendered":"
If the galloping stock market isn’t enough incentive to get into a 401(k) retirement plan, President Trump’s Secure Act, which went into effect Jan. 1, 2020, offers another perk. The Act gives a tax credit to employers that automatically enroll workers into their retirement plans. Studies show people are more likely to stay in a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,32],"tags":[],"class_list":["post-1225","post","type-post","status-publish","format-standard","hentry","category-education","category-general"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t