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Are you a company looking to
establish a qualified retirement plan for the first time?
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) was created to
allow small employers an income tax credit equal to 50% of the first $1,000 of
administrative and retirement education expenses they incur for each of the first three
years after the adoption of a new plan.
“Small Employers” are those with no more than 100 employees who received at
least $5,000 of earnings in the proceeding year and have at least one NHCE (Non Highly
Compensated Employee in the plan.
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