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Lack of Pooled Retirement Plan Guidance Worries Practitioners

July 29, 2020, 8:46 AM

Lack of IRS guidance on employment tax breaks stands in the way of businesses banding together to offer workers 401(k)s or other retirement plans.

The absence of pooled retirement guidance is one of the biggest obstacles for unrelated businesses wanting to combine their resources to launch qualified retirement programs by the prescribed Jan. 1, 2021, start date. Without that guidance, companies won’t be able to deduct contributions they make on behalf of staff.

The government’s regulatory agenda mentions a half-dozen components to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, a law that rewards companies for creating ...

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