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William Byrnes (Texas A&M) tax & compliance articles

Posts Tagged ‘Small Business Administration’

myRA: Making Retirement Planning Work Your Small Business

Posted by William Byrnes on August 6, 2014

SBA logo

SBA Webinar registration

This free webinar will focus on “myRA” (“My Retirement Account”), a new retirement savings account for individuals looking for a simple, safe, and affordable way to start saving.  Savers will be able to open an account for as little as $25 and contribute $5 or more every payday.  myRA balances will never go down, and there will be no fees. Initially, myRA will be made available through employers and the investment held in the account will be backed by the U.S. Treasury.

  • Date:Tue, Aug 12, 2014
  • Time:01:00 PM EDT
  • Duration:1 hour
  • Host(s):United States Treasury Department, Small Business Administration
  • Presenter: Cynthia Egan – Senior Advisor, Office of Domestic Finance, U.S. Department of the Treasury

For businesses, making myRA available to employees is straight-forward.  Treasury will handle account set-up and maintenance and will provide informational materials for business owners to share with their employees.  There is no employer-match or contribution.  In fact, all that interested employers have to do is to make Treasury-provided program materials available to their employees and set-up ongoing payroll direct deposits into myRA for interested employees.  myRA is intended for employees who do not have access to an employer-sponsored plan or who are not eligible for their employer’s plan.  myRA is not intended to replace current employer-sponsored retirement plan offerings.

Topics being discussed include:

  • Overview of myRA
  • Benefits of the program
  • Steps for employer adoption

A question and answer period will follow.

Posted in Retirement Planning | Tagged: , | Leave a Comment »

The Impact of the Small Business Jobs and Credit Act

Posted by William Byrnes on September 30, 2010

President Obama signed the Small Business Jobs and Credit Act of 2010, H.R. 5297, on Monday, September 27, establishing an allowance for partial annuitizations of annuity contracts from January 1, 2011.  In the coming weeks, the Advisors Journal will include in-depth examinations of the provisions of the Small Business Act that are of the most interest to advisors and insurance producers, such as the partial annuitization of annuity contracts and the Roth Conversion Extension to Employer Accounts.

In this AdvisorFX exclusive analysis, we summarize the impact of the Act’s other major provisions.  Please read the article via your AdvisorFX subscription at AdvisorFX (or sign up for a free 30 day trial).

Posted in Tax Policy, Taxation | Tagged: , , , , , , , | Leave a Comment »

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