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According to the Labor Statistics Report from the U.S. Bureau, 66% of American employees who work in firms with less than 100 employees or small businesses are provided with retirement plan benefits by the employer. Administration challenges are one of the crucial factors behind the lack of employer-provided retirement plans. To solve these issues, SECURE Act 2019 and SECURE Act 2.0 addressed the need for small business owners to provide employees with 401(k) and 403(b) plans.
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