Question: Do you have any information or insights regarding employer interest in adopting the SECURE Act 2.0 optional provisions?
Answer: According to Alight’s 2024 Hot topics in retirement, just three SECURE 2.0 optional features have most employers saying they are definitely or likely adopting them: the increased force-out limit for vested balances up to $7,000, hardship self-certification and super catch-up contributions for age 60–63. Additionally, at least 30% of employers say they are definitely or likely adding the $22,000 disaster-relief withdrawal, the $1,000 emergency-need withdrawal and $10,000 domestic- abuse withdrawal to their plans.
Alight’s report covers a number of other hot topics, including the importance of financial well-being in defined contribution plans, growing interest in lifetime income products and how employers perceive the success of their employee behavior initiatives. Click here to view the report.
