The passage of the 2023 Consolidated Appropriations Act, which included the provisions of SECURE 2.0, made several impactful changes and enhancements to 401(k) plans and similar employer-provided retirement plans.
Sometimes, things get lost in the shuffle. When that shuffle is a move to a different employer and those things are retirement funds, that can be a major problem.
Employers that sponsor retirement plans do so because they understand the importance of helping to support their employees’ current and future financial health.
Small employers can struggle to compete with major corporations. Not only do bigger companies typically have larger purse strings, they may also be able to offer more attractive benefits. As a result, small businesses sometimes miss out on recruiting top talent.
