Only 41% of small business owners (and 69% of mid-size owners) are aware of emergency savings opportunities for employees provided by SECURE 2.0, while even fewer know about student loan matching options.

An increasing number of businesses will be starting retirement plans in the wake of the SECURE 2.0 - and tax credits will help small business employers offer them, according to new research.

Thanks to a new SECURE 2.0 provision that allows employers to offer financial incentives to start saving for retirement, participants can now earn up to $250 if they contribute to a plan for one year under a new program.

While litigation is not widespread, it's important for plan sponsors to look at operations and shore up practices since there was action on 43 defined contribution cases during the first quarter of 2023, according to Mercer.

Slightly upping default auto-escalation rates - from 1% to 2% - and escalation intervals in defined contribution plans could improve savings without discouraging participation, according to Voya research.

The firm cited a "technical issue" in a letter of acceptance to the Financial Industry Regulatory Authority for overstating projections on customer statements for nearly a year and failing to quickly address customer reports.

While 38% of Gen X and 29% of baby boomer investors expect a prolonged period of severe downturn, 56% of Gen Z and 50% of millennials say they still expect to retire on time, according to the Nationwide Retirement Institute.

Expanding retirement plan coverage so that all workers can save for retirement is key to improving retirement security, particularly small companies that can take advantage of SECURE 2.0's new provisions, says a new study.