What makes startup 401(k) plans the new frontier for retirement savings?

Join Rebecca Hourihan as she sits down with Kevin Spaeth from PenChecks to explore the modern twists redefining 401(k) plans. They delve into the impact of auto-enrollment and escalation, the role of safe-harbor rules, state-mandated IRA programs, and the introduction of strategic tax incentives designed to engage more businesses.

Rebecca and Kevin discuss:

How auto enrollment and escalation are enhancing plan participation and savings (00:05:24)
The misconceptions business owners have about retirement plans (00:07:15)
The influence of state mandates on advisor involvement in micro plans (00:10:53)
The significance of government tax credits for startup plans (00:13:17)
The potential for auto portability to improve participant outcomes (00:19:23)
And more

Connect With Kevin Spaeth:

LinkedIn: Kevin Spaeth
PenChecks
kspaeth@penchecks.com
949-306-4367

Connect With Rebecca Hourihan:

About Our Guest:

As part of the Clean Up Crew, Kevin Spaeth helps TPAs support their clients in keeping retirement plans clean, compliant, and running smoothly. The goal: to help clients increase average account balances while reducing fiduciary risk.

Since 1997, Kevin has dedicated his professional career to working with ERISA plans, with a focus on helping small businesses empower their employees to prepare for retirement. His background spans recordkeeping, investment management, and the administration of qualified retirement plans.

Today, at PenChecks Trust, Kevin is passionate about reuniting Americans with their hard-earned retirement savings, ensuring no one leaves behind what they’ve worked so hard to earn.

The Silent Goldmine: How Tech, Tax Credits & Mandates Are Disrupting Small Business Retirement Plans (Ep. 52)