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Although plan amendments and related changes to summary plan descriptions may be delayed, identifying applicable changes and taking necessary steps is crucial for compliance.

The new law bolsters small businesses' ability to provide retirement benefits to their employees by offering tax credits to offset costs, however, for advisors, it's an unprecedented opportunity to tap into a new revenue stream.

As ideas on how best to help employees save money for retirement continue to advance, employers and plan sponsors will need to stay abreast of the changing regulatory requirements and evolving participant needs.

The American Retirement Association estimates that 19 million additional workers will gain access to a workplace retirement plan through SECURE 2.0's Starter 401(k) provision alone.

Student loan match, emergency savings and 529-to-Roth IRA rollovers are provisions in the new law that can alleviate some of the stress workers face when trying to balance their current needs with future financial security.

Since only 37% of Americans feel confident that they would be able to retire, it's imperative to meet employees where they're at when confronting their retirement planning options, according to a new survey.

Most of the new retirement legislation's 92 provisions will kick in for plan sponsors in 2024 and beyond – meaning many companies relying on Excel and similar legacy software are at a crossroads.

Only 7% of women believe they have sufficient savings to last their entire retirement, and "it's incumbent on us in the financial industry to do a better job of reaching women as early as possible," according to IRALOGIX.