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Many small business employers may be unaware that there are several retirement solutions available to them and that the new federal law covers 100% of the startup administrative costs for employers with up to 50 employees.

Companies should consider their industry and their working environment before simply making changes and should continue to deal with requests for accommodation in accordance with best practices and the law.

The mandatory SECURE 2.0 provisions that must be implemented within the next two years are generally action items for human resource and benefits professionals, benefits committees, and recordkeepers.

Ultimately, this kind of technology, centered on a VBC delivery model, will help employers reduce expenditures and improve overall financial stability.

As the year progresses, expect an increasing number of employers and benefits consultants to build value-based networks designed to improve health outcomes while reducing costs - and alternative care delivery sites will expand.

The updated form, which includes improved reporting by pooled employer plans and addresses provisions in the SECURE Act 2.0, is estimated to reduce overall filing costs for employee benefit plans by $95 million.

Employers can play a role in guiding employees through the process of reporting health savings account (HSA) activities on their tax returns.

With the passage of this landmark legislation, significant administrative guidance on changes to retirement plans will be forthcoming from the IRS and the DOL, but here is a preliminary summary of the most relevant changes.