Employees are taking a multi-pronged approach to saving for both the long- and short-term. New legislation, paired with supportive workplace benefits, can help employees proceed with a clear strategy.
This past December, Congress passed the Omnibus Appropriations Bill, which included a variety of retirement-related provisions that were originally a part of SECURE Act 2.0. Employers will be required to auto-enroll employees into new 401(k) plans at a 3% contribution rate. Employers can also make contributions into a retirement account that matches an employee’s student loan payment, bridging the savings gap for those burdened with debt.
