While the official announcement will come in October, the IRS contribution limit for retirement accounts will likely be a modest $500 increase for 2024, according to a new Milliman report.
Sen. Bill Cassidy and Rep. Virginia Foxx sent a letter to Acting Labor Secretary Julie Su to “cease further action” on a new fiduciary rule, which has "created unnecessary instability for retirement plans."
With SECURE 2.0 signed into law, featuring new auto-enrollment requirements, retirement advisors can help prepare payroll systems for the new regulations, otherwise employers will face the possibility of fines.
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