Tax Credits or Deductions for Startup 401(k) Plans

In late December 2022, Congress passed the SECURE Act 2.0, which provides for significant changes to employer-sponsored retirement plans. Many of these changes will help employees save more and give you, the employer, more flexibility in helping your employees save. It also provides enhanced tax credits.

• Tax credits for startup costs
• Tax deductions for contributions
• Tax deferral on employer contributions
• Tax-exempt growth
• Tax credits for automatic enrollment
• Employer contribution tax credit

We work with Avantax Retirement Plan Services to offer a pooled employer plan (PEP). You can unlock a host of benefits that were once only accessible to larger organizations. By joining forces with other employers, plan sponsors can leverage economies of scale, streamline plan administration, and reduce fiduciary responsibilities. This powerful collaboration allows you to offer a robust and cost-effective retirement plan to attract and retain top talent, while focusing on your core business objectives. Here’s how a PEP can help you.

POSSIBLE ADVANTAGES:

• Plan design flexibility
• Reducing administrative burden
• Cost efficiency
• Outsourcing fiduciary responsibility
• Service and technology

 Contact us today to start the process or learn more.

^{Investment products/strategies mentioned may not be suitable for all investors.}