The ERISA Industry Committee seeks clarity, on behalf of their employer members, on implementing key provisions in SECURE 2.0, including matching student loan contributions, auto-enrollment and 401(k)s for long-term, part-timers.

The compensation employees receive is more than the number on their paycheck – 401(k) matching contributions, student loan repayment, employee stock purchase or employee discounts can add up to $10,000.

Next year, the new limits for health savings accounts and high-deductible health plans are a slight bump, following 2024's largest-ever increase to the amount employees can set aside in their accounts.

To be well-positioned for the possibility of a Department of Labor audit, plan sponsors need to watch out for common errors, which include late deposits of employee contributions into the plan, failure to implement employee deferral elections and failure to provide required notices.