As its name suggests, the Setting Every Community Up for Retirement Enhancement Act is designed to improve the country's retirement prospects. Time will tell if or how much the SECURE Act succeeds, but in the interim, new analysis from the Employee Benefit Research Institute models a range of potential outcomes that deliver modest to significant reductions in savings deficits.
EBRI's analysis isolates three provisions of the bill—the creation of Open Multiple Employer Plans, the increase of the cap on auto-escalation from 10 percent to 15 percent, and a new mandate to include part-time employees in workplace retirement plans.
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