What is auto-enrollment? It’s pretty simple.

➡️ What is the auto-enrollment amount?
➡️ What is the purpose of this auto-enrollment?
➡️ Does the administration tax credit apply to the same amount?
➡️ What is the maximum number of employees required to qualify?
➡️ Is the auto-enrollment credit available for all years of the plan?

Auto-enrollment allows employers with up to 100 employees to receive a $500 tax credit for the first three years of a new plan starting in 2023 if they create an opt-out retirement plan. The goal is to encourage more people to save for retirement by requiring employees to sign a form to opt out instead of opting in!