IncSmart District of Columbia (Small Business and Startups) -
401K Executive Order in District of Columbia. President Trump signed an Executive Order making it easier for small business to offer retirement savings plans. The order directs the Treasury and Labor Departments to begin easing regulations that prevent small business from providing retirement plans. The order should make retirement plans more affordable for small business.
The order includes making it easier for business to join Association Retirement Plans, known as Multiple Employer Plans. Currently multi employer plans are limited to companies that share common interests, such as the same industry or market. Another regulation to be reviewed is the distribution retirees must take. They can be lowered so people with this savings can leave money there for longer periods of time and collect more interest. The order is designed to cut administrative burdens and costs that would normally discourage small companies from offering 401Ks. The order will also take 180 days to 1 year to implement the order.
By IncSmart Staff Writer
Starting a Business in Washington DC
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form DC Corporations and DC Limited Liability Companies. When you call, email, instant message or live chat with our office, expect personal attention. We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place.
We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place. Think Smart. Think IncSmart.
Think Smart. Think IncSmart.