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AMENDMENT FOR EACH AND NACA PROVISIONS OF PENSION PROTECTION ACT OF 2006What provisions of the law does this Amendment cover? Adoption of this Amendment enables an employer to comply in form with
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EACA stands for Employee Retirement Income Security Act (ERISA) Auto Enrollment and QACA stands for Qualified Automatic Contribution Arrangement.
Employers who sponsor retirement plans that include EACA and QACA provisions are required to file.
Employers can fill out EACA and QACA provisions through the retirement plan documents and by following the guidelines provided by the IRS.
The purpose of EACA and QACA provisions is to encourage employees to save for retirement by automatically enrolling them in the employer-sponsored retirement plan.
The information reported on EACA and QACA provisions includes details about the automatic enrollment process, contribution levels, and employee opt-out options.
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