8 Ways the Secure Act 2.0 Helps You Save for Retirement
The $1.7 trillion spending bill President Biden signed into law last week has several pieces of welcome news for retirement savers. Included in the legislation is a set of provisions called the Secure Act 2.0, which are meant to help Americans boost their nest eggs. Here are some highlights that could help you save more for retirement.
Beginning in 2025, most companies that establish 401(k) and 403(b) plans will be required to automatically enroll workers. This rule won't apply to existing plans.
Automatic-enrollment amounts will range from 3% to 10% of a worker's salary, increasing by 1 percentage point until the employee contribution reaches 10% to 15%. Workers will be allowed to opt out.
Source Fool.com
