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Why SECURE 2.0 Act Auto-Enrollment and Escalation Will Boost Employee Financial Well-Being

Griffin Benefits

contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0 SECURE ACT 2.0

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What is the SECURE Act?

Abel HR

This legislation should interest individuals and employers as it can impact both financial planning and retirement. The act is now the most extensive reform to impact the economy since the Pension Protection Act of 2006. It allows long-term, part-time workers to take part in 401(k) plans. What is the SECURE Act?

401(k) 52
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AbelHR: What is the SECURE Act?

Abel HR

This legislation should interest individuals and employers as it can impact both financial planning and retirement. The act is now the most extensive reform to impact the economy since the Pension Protection Act of 2006. It allows long-term, part-time workers to take part in 401(k) plans. What is the SECURE Act?

401(k) 52
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Employee Focused Retirement Plans

HR Professionals Magazine

As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.

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Laws And Regulations Every HR Professional Should Know In 2023

Empuls

Employers must consider these requests seriously and can only reject them on reasonable business grounds. Various new pieces of legislation aim to extend traditional employment protections, like minimum wage and benefits, to gig workers and freelancers. New labor laws are granting employees the right to request flexible work hours.