))
3-28-23 – Emergency Savings Accounts for Employees Boost Retention and Productivity
Manage episode 359231618 series 3344679
Content provided by Adam Hewitt. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Adam Hewitt or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
FEATURE
Nearly 1/3 of Americans would be unable to cover an unexpected expense of $400.
Remember to consult your financial, HR, and legal counsel when creating any specific program.
Congress passed the SECURE 2.0 Act, which will enable employers to set up ESAs for their employees tied to their retirement accounts, beginning in 2024.
Outside of options available within SECURE 2.0, an employer could set up an ESA not connected to a retirement plan. One platform called SecureSave helps businesses run ESAs.
https://www.securesave.com/employers
https://resources.betterment.com/hubfs/PDFs/b4b/reports/financial-wellness-benefits-survey.pdf
----------
NEWS ROUNDUP
1
Rising interest rates and recent bank failures are squeezing credit supply for small businesses.
https://www.forbes.com/sites/rohitarora/2023/03/24/rising-interest-rates-lead-to-a-small-business-credit-crunch/?sh=7458f66b3b3e
https://www.reuters.com/markets/us/feds-jefferson-still-learning-impact-tighter-monetary-policy-2023-03-27/
2
The vast majority of small businesses find it challenging to some degree to manage the cost of offering employer-sponsored health insurance.
https://strgnfibcom.blob.core.windows.net/nfibcom/Health-insurance-survey-NFIB.pdf
3
There are several ways you can do more to shop with small businesses, including using web sites that help you find small businesses via maps.
https://www.americanexpress.com/en-us/maps?cat=Shop-Small&intlink=us-GABM-Map_Home
https://www.independentwestand.org/support-independent-business/
https://mashable.com/article/how-to-shop-small
----------
This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/.
👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg.
📧 I would love to hear from you! Please email me at adam@smallbizflash.com.
🖥️ Learn how I can help your small business at https://eraynay.com/.
80 episodes
Share
