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February 9, 2023

Craig Reid featured in American City Business Journals

Retirement tax credits could be a 'game changer' for small businesses

In light of Congress’ recent passing of the SECURE 2.0 Act into law, Marsh McLennan Agency’s President and National Practice Leader of Wealth and Retirement, Craig Reid, recently shared his insights with American City Business Journals about what this means for small business owners.

Amid the race for talent, offering a competitive retirement plan option for employees is one way small business owners can compete in the marketplace. SECURE 2.0 helps make it easier for these owners to tout the more sought-after 401(k) rather than a simple IRA plan. Additionally, the new legislation provides a tax incentive for small businesses to offer their employees a 401(k) plan.

“If a small business owner has been contemplating a 401(k) plan to attract and retain talent and help grow their business, now is the time,” Reid said.

Read the full article in The American City Business Journals here