Retirement Regulation

An emergency savings policy – which would automatically enroll employees into savings programs – would align with the goals of the U.S. retirement system, wrote employers in a letter sent to House and Senate leaders.

Due to inflation, some of the new numbers are substantially higher than their 2022 counterparts.

The Retirement Savings for Americans Act would establish a new program that gives workers access to portable, tax-advantaged retirement savings accounts with federal matching contributions for low- and middle-income workers.

It's no easy task in a turbulent economy for plan sponsors to look ahead, with a new Congress taking power in January and not knowing if the current Congress will enact SECURE Act 2.0 in the post-election session next week.

When it comes to employee retirement plans, some advisors adhere to a less stringent set of obligations - the suitability standard, so it's beneficial to speak openly with advisors and brokers about their fee structure.

The debate's likely to continue over whether 401(k) plan sponsors should consider environmental, social and governance factors when selecting investment options, but the rule creates new opportunities for advisors.