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Illinois Lawmakers Consider Expanding Mandatory Retirement Savings Program To Small Employers | SmithAmundsen LLC


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The Illinois General Assembly is considering a bill (H.B. 117) that would make several amendments to the Illinois Secure Choice Savings Program Act, including extending the requirement to offer employees a retirement savings plan to employers with 5 to 24 employees. H.B. 117 was passed by the Illinois House of Representatives earlier this month and is currently pending in the Illinois Senate.
Currently, Illinois employers that have 25 or more employees and have been in business at least two years are required to participate in the state-run Illinois Secure Choice Savings Program (Secure Choice Program) or offer another qualifying retirement savings plan to employees. H.B. 117 would lower the threshold to employers with 5 or more employees. ....

United States , Illinois Senate , Illinois Secure Choice Savings Program , Choice Program , Illinois General Assembly , Illinois Secure Choice Savings Program Act , Illinois House , Secure Choice Program , Secure Choice , Roth Individual Retirement Accounts , Illinois State Treasurer , Simplified Employee Pension , ஒன்றுபட்டது மாநிலங்களில் , இல்லினாய்ஸ் செனட் , இல்லினாய்ஸ் பாதுகாப்பானது தேர்வு சேமிப்பு ப்ரோக்ர்யாம் , தேர்வு ப்ரோக்ர்யாம் , இல்லினாய்ஸ் ஜநரல் சட்டசபை , இல்லினாய்ஸ் பாதுகாப்பானது தேர்வு சேமிப்பு ப்ரோக்ர்யாம் நாடகம் , இல்லினாய்ஸ் வீடு , பாதுகாப்பானது தேர்வு ப்ரோக்ர்யாம் , பாதுகாப்பானது தேர்வு , ரோத் தனிப்பட்ட ஓய்வு கணக்குகள் , இல்லினாய்ஸ் நிலை பொருளாளர் , எளிமைப்படுத்தப்பட்டது ஊழியர் ஓய்வூதியம் ,

Stock market: New investors should know what's next for stocks


Don t count on so much free money 
Investing, like gambling, isn t so difficult when you re playing with house money. That was somewhat the case for millions of Americans who received stimulus payments from Uncle Sam or possibly souped-up unemployment benefits.
Sure, plenty of people used this cash as financial lifelines, to stay afloat. But others saved their stimulus checks or put them to use in the stock market.
In other words, some new investors probably don t fully appreciate that investing involves sacrifice: You forego consumption today in hopes that your money will grow enough over time that higher spending will be possible years down the road. ....

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MOAA - State Tax Update: News From 5 States on Efforts to Exempt Military Retired Pay


 
Maryland MOAA members are working vigorously to pass exemptions on the taxation of military retirement pay in their state.
 
Senate Bill 574 and accompanying House Bill 734, both introduced Jan. 26, would grant a partial state tax exemption for military retirement in the 2021 tax year  either $15,000 or 50% of the military retirement income, whichever is greater. For the 2022 tax year and beyond, the exemption would extend to all military retirement income received.
 
MOAA’s Maryland Council of Chapters is part of the Maryland Military Coalition (on Twitter: @MDMilCoalition), a group of 17 organizations that’s fighting to secure the exemption, said Col. Bob Norton, USA (Ret), council president.  Members of that group “strongly support Gov. [Larry] Hogan’s bill to phase out state income tax on military retired pay as 31 other states have done,” Norton said.   ....

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