While most states are beginning to offer hybrid DB/DC plans, Alaska has chosen to move future hires into defined benefit 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.
Since It’s the first law that links employees’ payment of student debt with the statutes governing defined contribution retirement plans, Congress is hoping the result is greater retirement savings in America – but only time will tell.
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