During this information packed webinar Sean discussed:
*Changes to small business accounts.
*SEP IRA, SIMPLE IRA, and Solo 401(k)
*New rules around catch-up contributions.
*Automatic Enrollment – Employer Sponsored Plans….(read more)

LEARN MORE ABOUT: IRA Accounts

CONVERTING IRA TO GOLD: Gold IRA Account

CONVERTING IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

The Secure Act 2.0: What You Need to Know

The Setting Every Community Up for Retirement Enhancement (Secure) Act 2.0 has been making headlines in the financial world. This bipartisan legislation was recently introduced in Congress and aims to further improve retirement savings options for American workers. Building on the original Secure Act that was passed in 2019, Secure Act 2.0 seeks to address the evolving needs of retirees and workers and make it easier for individuals to save for retirement.

One of the key provisions of the Secure Act 2.0 is the expansion of automatic enrollment in retirement plans. This means that employers will be encouraged to automatically enroll their employees in a retirement plan, with the option to opt out if they wish. Research has shown that automatic enrollment significantly increases the number of employees participating in retirement plans, so this change has the potential to greatly improve retirement savings rates across the country.

Another important aspect of the Secure Act 2.0 is the expansion of access to retirement savings plans for part-time workers. Currently, many part-time employees are excluded from participating in employer-sponsored retirement plans. The new legislation aims to change that by requiring employers to allow long-term part-time workers to participate in their retirement plans. This will provide a valuable opportunity for millions of workers who may have previously been unable to save for retirement through their jobs.

Furthermore, Secure Act 2.0 also includes provisions to increase access to annuities in retirement plans. Annuities provide a guaranteed income stream during retirement, and the new legislation aims to make it easier for employers to offer annuities as an option within their retirement plans. This can provide retirees with additional financial security by ensuring a steady income during their retirement years.

In addition to these key provisions, Secure Act 2.0 includes various other measures to improve retirement savings, such as increasing the age for required minimum distributions from retirement accounts and providing greater flexibility for individuals with student loan debt.

Overall, Secure Act 2.0 represents an important step forward in addressing the retirement savings crisis in America. By expanding access to retirement plans, increasing the availability of annuities, and implementing other measures to improve retirement security, the legislation has the potential to positively impact the financial well-being of millions of Americans.

As Secure Act 2.0 makes its way through Congress, it is important for individuals to stay informed about the potential changes and how they may affect their retirement savings. Consulting with a financial advisor or retirement planner can also be helpful in navigating the evolving landscape of retirement planning and making informed decisions about saving for the future.