US Labor Department to host free webcast Feb. 23 for small businesses and their accountants on retirement savings options

WASHINGTON – As part of America Saves Week, the U.S. Department of Labor’s Employee Benefits Security Administration and the America Saves campaign of the Consumer Federation of America will host a free webcast on Thursday, Feb. 23, 2012, from 2 to 4 p.m. EST, for small businesses, their accountants and service providers. Topics include choosing a retirement savings plan and the advantages of direct deposits to small businesses and their employees.

The webcast will focus on retirement savings options ranging from simplified employee pensions and savings incentive match plans for employees, otherwise known as SEPs and SIMPLE IRAs, to various types of 401(k) plans. The simpler options often require little or no paperwork, while 401(k) plans offer more flexibility in plan design. Some plans allow employees to make additional contributions as a way to grow their retirement savings.

The U.S. Department of Labor will be joined by the American Institute of Certified Public Accountants to discuss retirement savings options available for small businesses.  The webcast will provide practical information and helpful tips to understand and compare these options while also providing insights on starting and operating a retirement savings plan. Additionally, the Consumer Federation of America and NACHA-The Electronic Payments Association will focus on direct deposits as a simple way for employees to build retirement savings at work and a secure financial future. They also will discuss the advantages of direct deposit for employers, including simplifying business processes.

Register for the webcast online at www.dol.gov/ebsa.  Additional information about retirement solutions for small businesses is available on EBSA’s web site.

U.S. Department of Labor news materials are accessible at www.dol.gov. The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling 202-693-7828 or TTY 202-693-7755.