Automatic enrollment and emergency savings provisions made it into the final version of a closely watched legislative package designed to boost participation in workplace retirement plans and reduce the cost and administrative burdens of sponsoring them.
The Securing a Strong Retirement Act, known as SECURE Act 2.0, appeared as part of the Senate’s omnibus spending package for fiscal year 2023, which was released early Tuesday. Congress has until Friday to pass the spending package or a continuing resolution to push its deadline into next year.
Retirement access legislation broadly enjoys bipartisan support as lawmakers have expressed concern over Americans’ lack ...