Employers can support lower-income employees by extending eligibility to part-timers, collaborating with their plan providers on educational campaigns, and raising awareness of the Saver's Credit, says a Transamerica report.
Expanding retirement plan coverage so that all workers can save for retirement is key to improving retirement security, particularly small companies that can take advantage of SECURE 2.0's new provisions, says a new study.
This massive growth will be fueled by a tight labor market and SECURE 2.0 government mandates – and 401(k)s among employers with less than 100 employees will have equaled coverage among employers of 100+ employees.