What Small Business Owners Need to Know About the Automatic Retirement Plan Act (ARPA)

Description

The Speaker Eva Scott will review the Automatic Retirement Plan Act (ARPA) that rolled out on June of 2023. She will discuss how this new regulation will affect small business owners in Virginia. The ARPA amends the IRS code requiring employers to maintain automatic contribution plans for employees. Key Takeaways: Who is affected by ARPA What choices do you have as a small business owner How the Department of Treasury can pay the credit as a contribution to the retirement account. What is the excise tax imposed on employers if ARPA is not implemented? Can the investment be portable if an employee leaves the job? How to create a lifetime income for your employees in retirement What plans are available and what are the contribution limits What employees are eligible to participate in the retirement plans