BizSugar.com › Finance › Things Small Business Owners Need to Know About the SECURE Act

The Setting Every Community Up for Retirement Enhancement Act (SECURE) is part of the government’s spending bill that includes numerous provisions intended to strengthen retirement security across the country. It is designed to open up opportunities to segments of the workforce that was previously not covered in retirement plans. In addition, the bill attempts to bring more flexibility to selecting retirement plans for small businesses in particular.
The bill is part of a larger government spending package, signed into law in December 2019. The reforms could make saving for retirement easier and more accessible to many Americans. It particularly increases access to tax advantages for young families and prevents older Americans from outliving their assets.