SECURE 2.0 Act has persevered. It has passed and now holds the title of – most recent Pension Reform! The legislation looks like a checklist for changes that will strengthen the U.S. based American retirement system for generations.
SECURE 2.0 contains many provisions with a strong emphasis on age, participation and auto features. Many plan sponsors have noticed a lot to celebrate within SECURE 2.0. However, many others view SECURE 2.0 as only a starting point of a continuous improvement effort. A continuous improvement effort that will incorporate personalization instead of a one-size fits all solution.
In a recent episode of 401(k) Real Chat, Fred Barstein, contributing editor to WealthManagement.com’s RPA Edge portal, interviews UCLA Professor Shlomo Benartzi, author of “Save More Tomorrow.” Mr. Barstein points out the progress made through the use of auto features – including the huge impact on increasing participation and savings rates in DC plans.
Watch the interview to learn how personalization becomes the next logical step in making significant progress within qualified retirement plans.
