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The IRS sign on the IRS building (Credit: Allison Bell/ALM)

The Internal Revenue Service released question-and-answer guidance on December 9 to help small businesses and other employers that maintain 401(k) and certain 403(b) plans comply with the Setting Every Community Up for Retirement Enhancement (Secure) Act of 2019.

In Notice 2020-86, the IRS explains that the Secure Act generally increases from 10% to 15% the maximum automatic elective deferral under an automatic enrollment safe harbor plan.

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