If Congress lets a pandemic-era boost expire, however, roughly 4 million people could sign up for employer-sponsored coverage in 2025.

With 90-plus provisions, SECURE 2.0 is a complex piece of legislation, and there is still some confusion among plan sponsors about tax credits to cover administrative costs, as well as which provisions are optional or mandatory.

A former Wells Fargo employee filed a lawsuit last week, alleging that the bank mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit instead of plan participants.