PEP might get pepped with possible retirement plan change

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Ways and Means Committee approved proposals for portions of the reconciliation bill, among them a plan to strengthen retirement savings, which might be a boost for pooled employer plans (PEPs).

The proposal would require employers that don’t currently offer employer-sponsored retirement plans to automatically enroll their employees in individual retirement accounts such as an IRA or other plans similar to a 401(k).

Any type of forced IRA program mandates for employers that don’t offer retirement plans will likely act as a boost for PEPs because many employers would rather join one, than being forced into a program run by the government.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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