Changes Coming To Retirement Plans As New Bill In U.S. Senate
Written by Andre on May 2, 2022
Changes are coming to retirement plans as lawmakers in the U.S. Senate decide on a bill and vote before the end of the summer. The new bill could change 401(k) and 403(b) retirement plans for both employers and workers.
Congress is attempting to make changes to help with the retirement crisis the country could soon face. So some of the changes would include automatically requiring eligible workers to enroll in a plan at 3% of their salary. It would require employers to allow part time workers to contribute to a retirement account if they work 500 hours a year for two years.
For the full list of changes click CNN
We will definitely discuss on the Wake Up Club Monday with Dr. Cheryl McKeiver on the Watercooler at 10am.