The SECURE 2.0 Act was signed into law on December 29, 2022, and contains a number of provisions impacting employer retirement plans. As a family business owner, it is important to stay on top of changes in the law that may impact your business or your retirement plans.


Below are three SECURE 2.0 retirement plan changes that family business owners should be aware of.


  1. Tax credits for start-up costs. Beginning in 2023, businesses with 50 or fewer employees are eligible for a tax credit on up to 100% of retirement plan start-up costs. Businesses with 100 or fewer employees may also be eligible for a credit on a percentage of employer contributions.
  2. Automatic enrollment. Beginning in 2025, 401(k) plans will be required to automatically enroll eligible employees. However, there are exceptions for businesses with 10 or fewer employees and businesses in existence for less than 3 years.
  3. Part-time employee participation. Beginning in 2025, employers will be required to allow part-time employees to contribute to the employer’s retirement plan if they have 500 or more hours of service for two consecutive years.

Read more about the SECURE 2.0 Act and tax strategies for high-income individuals.

How Does The SECURE 2.0 ACT Affect You?

Top Five Personal Tax Strategies For High-Income Individuals

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About Homrich Berg
One of the 50 largest registered investment adviser (RIA) firms in the country based on assets under management, HB was a pioneer when we founded our firm in 1989 with a focus on serving clients with a fiduciary approach. We have grown to serve clients in over 48 states from our home base in metro Atlanta and now have 43 principals and more than 180 employees.

We have kept our core values constant and kept our focus on our clients even as we have continued to be a pioneer in using technology and expertise to find new ways to provide great service to our clients. A key part of our success is attracting great people who enjoy our culture and our approach. We have received many awards over the years, but we are most proud of our 98%+ client retention rate*. Community is important to HB, as we give our time and resources to help make a difference. To learn more about HB, visit

*Client retention rate

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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.

Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC.  Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.

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