(The Center Square) – Employers now have guidance from the Treasury Department on how to contribute to ‘Trump Accounts’ for their employees’ children, and the department says more than 50 companies have already committed to offering such contributions.

The new guidance provides a framework for employers to contribute up to $2,500 annually to employees’ ‘Trump Accounts’ for their children. Employers’ contributions are considered pre-tax, meaning they will not count toward the employees’ taxable income. If employers choose to offer the benefit to their employees, their employees can also elect to contribute pre-tax dollars to those accounts.

Originally published on thecentersquare.com, part of the BLOX Digital Content Exchange.

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