Updates on Your 401(k)

Important Updates on SECURE 2.0 Act for Your Retirement Plan

Dear Rob,

The SECURE 2.0 Act of 2022 has brought significant changes to retirement plans, offering new opportunities to enhance savings and improve plan flexibility while introducing important compliance updates. As your trusted partner, RPG Consultants is here to guide you through these updates and ensure your plan remains optimized and compliant. The key updates that may impact the management of your retirement plan include:

• Automatic Enrollment and Contribution Escalation - for new plans established after December 29, 2023.
• Higher catch-up contributions for ages 60-63
• Expanded Eligibility for Part-Time Employees
• And many more - A more complete guide can be found on our website – Understanding the SECURE 2.0 Act: What Employers and Plan Sponsors Need to Know - RPG Consultants

How We Can Support You

While our team is working to ensure our systems can accommodate these new rules, we are here to assist with implementing the required provisions into your plan. We are available to answer any questions about the required and optional provisions. You may contact our Support Team at support@rpgconsultants.com. We will continue to keep you updated as further guidance becomes available.

REMINDER: The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025. We encourage you to review the updated chart on our website here: https://www.rpgconsultants.com/news/annual-plan-limits-chart/

Thank you for trusting us with your retirement plan needs

For more information about ESG follow these links

https://socialk.com/blog/retirement-plans-and-fossil-fuels

https://socialk.com/blog/atmosphere-99-of-401k-plans-have-no-climate-friendly-option

https://socialk.com/blog/ai-talks-401k