What Small Business Owners Need to Know About the Automatic Retirement Plan Act (ARPA)
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
By registering for this webinar you are allowing the UMWSBDC to share your information with the speaker of the event.
Speaker(s): Eva Scott is a Financial strategist with 20 years of experience in Financial services. She is a member of NAIFA (National Association of Insurance and Financial Advisors) and has worked In the DMV area for the last 10 years with Premier Financial Alliance. Eva enjoys working with business owners and individuals starting their retirement savings journey by designing a suitable and manageable platform of benefit plans and tax free retirement strategies. She also helps retirees move and protect their accumulated savings from TSPs or 401K into safe and predictable accounts where they will not lose value in market downturns as the goal is asset preservation. Top producer in her company in the field of Fixed and Indexed annuities, a solution for market declines at retirement and the assurance of creating a lifetime income you cannot outlive. Eva also works with young families setting up college saving plans that are more flexible have higher returns and utility than the traditional 529 state sponsored plans.
Co-Sponsor(s):
Fee: No Cost
All programs of the Virginia SBDC are open to the public on a non-discriminatory basis to all legal residents and citizens of the United States.
Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Full disclosures regarding federal funding are available at https://www.virginiasbdc.org/funding-sources/.