Breaking down SECURE 2.0 Act: what you need to know

HR{preneur}® by ADP®

The signing of SECURE 2.0 Act of 2022 includes important provisions and changes to retirement savings plans. But what does this mean for your business and employees? We’ve brought in an expert from ADP’s Retirement Services to help break down SECURE 2.0. We’ll help you know more about some of the new benefits to employers and employees that are designed to make it more attractive to offer retirement plans, and to improve retirement outcomes for employees. Listen in as we discuss:

• [1:57] Tax credits for start-up plans, and options for businesses to start a plan
• [3:12] Automatic enrollment, automatic escalation provisions & catch-up contributions
• [6:19] Changes to the Required Minimum Distribution requirements
• [6:59] What is the Student Loan Match provision?
• [7:44] Covering unexpecting expenses & emergency withdrawal provisions
• [10:50] How does this change the Saver's Credit?

Copyright © 2023 ADP, Inc. All rights reserved. This content may not be distributed, reproduced, modified, sold or used without the written permission of ADP. The information is provided "as is" without any expressed or implied warranty, is based on generally accepted HR practices and is advisory in nature. This content is provided with the understanding that neither the presenters nor the writers are rendering legal advice or other professional services. Employers are encouraged to consult with legal counsel for advice regarding their organization's compliance with applicable laws. This material is current as of the date of this episode (April 2023).