HR 8125
Starter-K Act of 2022
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Bill overview
The Starter-K Act of 2022 allows small businesses that don't currently offer retirement plans to establish ‘starter 401(k)’ arrangements. These arrangements would allow employees to make elective contributions up to $6,000 per year, with a maximum of 15% of their salary, and employers would not have to meet certain traditional retirement plan requirements. The bill also extends similar provisions to safe harbor deferral-only plans, simplifies reporting requirements, and clarifies how these plans are treated under retirement security regulations.
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