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Automatic (Enrollment) for the People - Losing Your Discretion

Adam C. Pozek 02/6/23
Ever since creating the ACA, EACA, and QACA as part of the Pension Protection Act of 2006, Congress has acted like automatic enrollment is the greatest thing since sliced bread when it comes to improving workers’ retirement savings (never mind how ridiculous those acronyms sound, especially all together like that). They have continued down that ...
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What New Tax Credits are Available for Adding an Automatic Enrollment Feature to our Plan?

DWC 02/4/20
Facts Our business currently has a retirement plan and we are considering adding automatic enrollment. We have heard that there are new tax credits available to employers who include automatic enrollment features in their plans.
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What is the Simplest Way to Add Automatic Enrollment to our Plan?

DWC 01/7/20
Facts We are considering adding automatic enrollment to our 401(k) plan. We’ve read some of the other posts on your website about EACAs and QACAs, but that all seems like a lot of extra complexity that we don’t really need. We’re really just looking for the basics; we want employees who don’t take any action to be automatically in rather than ...
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Is There a Plan Design that Combines the Benefits of Automatic Enrollment and Safe Harbor?

DWC 10/15/19
Facts My company sponsors a 401(k) plan, and we fail the annual ADP test pretty consistently. We really want to increase participation; not only to help our test results, but also to encourage our employees to save for retirement. Automatic enrollment would help with participation, but we would have to set the default rate too high in order for it ...
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Decoding the Alphabet Soup: What's With All the Acronyms? | Part 1

DWC 07/24/18
Facts People in the retirement plan business sure do like their acronyms. All these letters get thrown around, and I do not know what half of them mean.
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.