Secure 2.0 is a GO!
An updated version of the SECURE Act – the SECURE 2.0 Act of 2022 – was signed by President Biden on December 29, 2022, as part of the Consolidated Appropriations Act of 2023. While omnibus spending bill covers a variety of topics, changes to qualified retirement plans were included to encourage earlier plan participation and […]
Plan Participants: The More They Know, The Better
Do most utilize it as a tool to save for retirement – and, if not, do they understand the benefit that they are missing? According to the 2022 PLANSPONSOR Participant Survey, 155 of 174 (14.9%) respondents opted not to participate in a workplace defined contribution plan for various reasons.
2023 Fall Newsletter Cost of Living Adjustments for 2024
On November 1, 2023, the IRS announced the Cost of Living Adjustments (COLAs) affecting the dollar limitations for retirement plans for 2024. In October, the Social Security Administration announced a modest benefit increase of 3.2%. Retirement plan limits also increased over the 2023 limits. COLA increases are intended to allow participant contributions and benefits to […]