In late 2021, New York State mandated that all New York based employers and companies with 10 or more employees in business for at least two years must implement a retirement plan within nine months of final regulations (likely late 2022/early 2023). To fulfill this mandate, the state is offering the NYS Secure Choice Program, a plan with contribution limitations and restrictions, no employer matching, and no tax credits.  

But there are options. Affinity BST Advisors offers an inexpensive retirement plan alternative that is easy to set up and conforms to the NYS rules. The Multiple Employer Plan (MEP) enables employers to make matching contributions; allows higher employee contribution limits and offers annual tax credits for the first three years, a benefit not available with the NYS plan.    

The ABA team will not only set up and implement a new plan, but also maintain accurate recordkeeping, file proper tax filings and testing requirements on an ongoing basis.  

The Construction Contractors Association has partnered with Affinity BST Advisors to provide members an easy, inexpensive alternative to the NYS Retirement Plan mandate. 

ABA is hosting video conferences to explain the MEP and answer your questions. Here’s how you can attend:

 Thursday, April 21

• Join the April 21 Video Conference with this Zoom link
• Time: 10 a.m.
• Meeting ID: 840 1825 9029
• Passcode: 612790

Friday,  April 22

• Join the April 22 Video Conference with this Zoom link
• Time: 10 a.m.
• Meeting ID: 867 4854 4309
• Passcode: 761201