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What makes startup 401(k) plans the new frontier for retirement savings?
Join Rebecca Hourihan as she sits down with Kevin Spaeth from PenChecks to explore the modern twists redefining 401(k) plans. They delve into the impact of auto-enrollment and escalation, the role of safe-harbor rules, state-mandated IRA programs, and the introduction of strategic tax incentives designed to engage more businesses.
Rebecca and Kevin discuss:
- How auto enrollment and escalation are enhancing plan participation and savings (00:05:24)
- The misconceptions business owners have about retirement plans (00:07:15)
- The influence of state mandates on advisor involvement in micro plans (00:10:53)
- The significance of government tax credits for startup plans (00:13:17)
- The potential for auto portability to improve participant outcomes (00:19:23)
- And more
Related: What’s Really Changing in Retirement Policy? Key Insights Unlocked