Vestwell, Author at Patriot Software Tue, 04 Oct 2022 13:41:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Vestwell, Author at Patriot Software 32 32 Does Illinois Secure Choice Affect Your Small Business?  https://www.patriotsoftware.com/blog/payroll/illinois-secure-choice-retirement-savings-program/ Thu, 28 Jul 2022 14:59:50 +0000 https://www.patriotsoftware.com/?p=56700 A quarter of adults in the U.S. don’t have retirement savings. One reason? Not all employees have access to an employer-sponsored retirement program. Seeing this looming crisis, Illinois launched the Secure Choice Retirement Savings Program (Illinois Secure Choice). Like other state retirement programs, Illinois Secure Choice mandates that all businesses with five or more employees […]]]> Connecticut Employers, How Much Do You Know About MyCTSavings? https://www.patriotsoftware.com/blog/payroll/myctsavings-connecticut-retirement-savings-program/ Thu, 28 Jul 2022 12:49:22 +0000 https://www.patriotsoftware.com/?p=56694 Here’s a shocking stat: More than 600,000 private-sector employees in Connecticut don’t have an employer-sponsored retirement savings plan. To encourage more employees in the state to save for retirement, Connecticut launched the MyCTSavings Retirement Program (MyCTSavings). As with similar state retirement programs, MyCTSavings brings a mandate for many small businesses: Offer a retirement plan to […]]]> Safe Harbor 401(k) Plan: How to Maximize Your Small Business’s Savings  https://www.patriotsoftware.com/blog/payroll/safe-harbor-401k-plan/ Mon, 11 Jul 2022 22:47:52 +0000 https://www.patriotsoftware.com/?p=56568 alt=""In the United States, the most common type of retirement plan is the trusty 401(k). With over 60 million active participants and an estimated $7.3 trillion in assets, businesses of all sizes offer this type of plan to help their employees save for the retirement they deserve. However, not all 401(k)s are the same. While […]]]> CalSavers & Your Small Business: You May Be Required to Offer a Retirement Program https://www.patriotsoftware.com/blog/payroll/what-is-calsavers/ Wed, 08 Jun 2022 12:43:09 +0000 https://www.patriotsoftware.com/?p=56418 alt=""In 2019, the state of California put in place the CalSavers Retirement Savings Program, with the goal of enabling California residents to save for retirement. Right now, almost half of all private-sector employees in the U.S. are employed by small businesses. Of that group, only about 10% have a retirement savings plan at work. Despite […]]]>