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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.

The IRS announced Wednesday it will increase 401(k) contribution limits to $23,000 (from $22,500 in 2023), a smaller increase than last year's record-breaking amount of $2,000, while limits for employees over 50 remains unchanged.

While the official announcement will come in October, the IRS contribution limit for retirement accounts will likely be a modest $500 increase for 2024, according to a new Milliman report.

For employers who wish to offer employees earning more than $145,000 a catch-up contribution option, they must first contact their plan recordkeeper to request the changes, which can sometimes take months to be implemented.

The auto-enrollment and auto-escalation provisions within the new legislation could be perhaps the biggest catalyst for helping American workers accumulate wealth, according to a new report.