The Secure Act 2.0 was recently signed into law, and it has numerous changes for retirement rules and regulations. It is a sweeping set of legislation passed by Congress to address the needs of American workers and retirement. It expands access to employer-sponsored retirement plans, making it easier for business owners to offer 401(k)s and other plans without complex regulations or high costs. Here's what you need to know about the new law and how it could affect your retirement planning.
Employer Plan Impacts
Few benefits can have such a positive long-term impact on employee financial stability like the company retirement plans, especially 401(k)s. Some of the changes for employer sponsored plans, including 401(k)s, include:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.