As the retirement crisis looms, people just aren’t saving for their retirement like they should be and need to be. That’s why in 2019, the SECURE ACT 1.0 was passed, to provide benefits to employers for offering retirement plans and to employees for who participate in those plans. Now, three years later, SECURE Act 2.0 has passed and is expanding opportunities for workplace retirement plans across the United States. Tune in as host Gene Marks talks with Sarah Faye Pierce, Head of Government Relations at Paychex, and Michael Majors, VP of HR Solutions at Paychex, about these two big pieces of legislation and how they are working to help businesses and their employees.
Topics Include:
00:14 – Episode introduction 00:45 – Meet Sarah Fay Pierce 02:47 – Meet Michael Majors 04:55 – The retirement crisis in the U.S. 06:54 – Retirement offering amongst small businesses 09:25 – SECURE Act of 2019 12:40 – What is a Pooled Employer Plan (PEP)? 15:26 – SECURE 2.0 18:55 – Highlights of SECURE 2.0 19:23 – Enhanced tax credits 20:56 – Auto enrollment 29:01 – Benefits for younger and older employees 33:15 – Contributing to Roth accounts 37:23 – Safe Harbor database 38:39 – Wrap up
Find out more about SECURE 2.0 and how Paychex can help you start a retirement plan at https://go.paychex.com/secure-act
Read more about the incentives offered by SECURE Act 2.0 at www.paychex.com/articles/compliance/secure-act-changes.
Read more about the SECURE Act of 2019 here at www.paychex.com/articles/compliance/congress-passes-secure-act-for-retirement
Learn how to set up a 401(k) plan for small business employees at www.paychex.com/articles/employee-benefits/steps-for-401k-plan-setup-retirement-saving.
DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Popular Podcasts
New Heights with Jason & Travis Kelce
Football’s funniest family duo — Jason Kelce of the Philadelphia Eagles and Travis Kelce of the Kansas City Chiefs — team up to provide next-level access to life in the league as it unfolds. The two brothers and Super Bowl champions drop weekly insights about the weekly slate of games and share their INSIDE perspectives on trending NFL news and sports headlines. They also endlessly rag on each other as brothers do, chat the latest in pop culture and welcome some very popular and well-known friends to chat with them. Check out new episodes every Wednesday. Follow New Heights on the Wondery App, YouTube or wherever you get your podcasts. You can listen to new episodes early and ad-free, and get exclusive content on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. And join our new membership for a unique fan experience by going to the New Heights YouTube channel now!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!