If you offer a retirement plan, or are thinking about starting one, the SECURE 2.0 Act brings some major changes you can’t afford to ignore. In this episode of The Legacy Lab, we sit down with RMC Group’s VP of Pensions, Tamara Middleton, to break down what’s already in effect—and what’s coming in the remaining part of 2025.
Key Takeaways
Here are a few key takeaways from the episode of things already in effect:
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Starter 401(k)s and Safe Harbor 403(b)s are now available to help small businesses get started with simplified plans.
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Tax credits are better than ever—some employers can get up to 100% of startup costs covered.
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Student loan matching contributions are now allowed and went into effect January 2024.
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Emergency savings accounts can now be tied to retirement plans.
If you haven’t reviewed your plan design in the past year, now’s the time. And here is what to expecting coming soon:
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Auto-Enrollment Mandate begins for most new plans on January 1, 2025. Exemptions exist for companies with fewer than 10 employees or under 3 years old.
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Catch-up contributions for high earners (earning $145,000+) must be Roth contributions.
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New communication requirements for plan notices and participant statements.
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Payroll coordination and compliance updates should begin now, even if enforcement is delayed until 2026.
Additional Resources
- Meeting Link for Tamara Middleton
- Secure 2.0 and Student Loans >> read blog here
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SECURE 2.0 Act Boosts Tax Credits >> read blog here
- Follow us on social networks at @rmcgp on LinkedIn, Facebook and Instagram
There was too much to fit in one episode about SECURE 2.0, so stay tuned for part 2 coming soon!
The information provided in this podcast is for informational purposes only and does not constitute legal, financial, or professional advice. RMC Group recommends consulting with qualified professionals regarding your specific needs and circumstances.
