Americans' retirement confidence has dropped considerably as workers continue to feel the pressures of high prices, market volatility and rising interest rates. A new Nationwide Retirement Institute survey found about 1 in 5 consumers are worried about falling off track with their retirement goals.
Small businesses – which employ nearly half of all U.S. employees – face similar economic headwinds that can be exacerbated by a challenging labor market. One third of small business owners report struggling to find workers in the past six months and many expect further difficulty with attracting and retaining good employees in the next six.
The recently passed SECURE 2.0 Act is a win-win for workers and small business owners, offering access to expanded retirement plan benefits for employees and helping to level the playing field for small businesses competing to retain top talent.
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