The SECURE Act 2.0: The Most Impactful Provisions #11 — The Saver’s Match for Low Income Workers
Key Takeaways In the past, and for the next few years, the Internal Revenue Code provides for a nonrefundable tax credit for low-paid individuals who make plan, IRA or ABLE contributions. Unfortunately, that credit was seldom claimed on tax returns, possibly because of a lack of awareness among low-paid taxpayers. However, under SECURE Act 2.0—beginning […]
The SECURE Act 2.0: The Most Impactful Provisions (#2–Student Loan Matches)
Key Takeaways Some provisions in SECURE Act 2.0 are optional, where plan sponsors can adopt the provision in their discretion. Many of those provisions are opportunities to make plans more attractive or beneficial to employees. One such optional provision is the ability to match student loan repayments, which should be attractive to employers who hire […]