As the retirement crisis looms, people just aren’t saving for their retirement like they should be and need to be. That’s why in 2019, the SECURE ACT 1.0 was passed, to provide benefits to employers for offering retirement plans and to employees for who participate in those plans. Now, three years later, SECURE Act 2.0 has passed and is expanding opportunities for workplace retirement plans across the United States. Tune in as host Gene Marks talks with Sarah Faye Pierce, Head of Government Relations at Paychex, and Michael Majors, VP of HR Solutions at Paychex, about these two big pieces of legislation and how they are working to help businesses and their employees.

Topics Include:

00:14 – Episode introduction00:45 – Meet Sarah Fay Pierce02:47 – Meet Michael Majors04:55 – The retirement crisis in the U.S.06:54 – Retirement offering amongst small businesses09:25 – SECURE Act of 201912:40 – What is a Pooled Employer Plan (PEP)?15:26 – SECURE 2.018:55 – Highlights of SECURE 2.019:23 – Enhanced tax credits20:56 – Auto enrollment29:01 – Benefits for younger and older employees33:15 – Contributing to Roth accounts37:23 – Safe Harbor database38:39 – Wrap up

Find out more about SECURE 2.0 and how Paychex can help you start a retirement plan at https://go.paychex.com/secure-act

Read more about the incentives offered by SECURE Act 2.0 at www.paychex.com/articles/compliance/secure-act-changes.

Read more about the SECURE Act of 2019 here at www.paychex.com/articles/compliance/congress-passes-secure-act-for-retirement

Learn how to set up a 401(k) plan for small business employees at www.paychex.com/articles/employee-benefits/steps-for-401k-plan-setup-retirement-saving.