Setting Every Community Up for Retirement Enhancement (SECURE) Act, a bill to enable employers to provide their staff with a road to retirement. Under the SECURE Act, multiple employers can pool funding under one plan so that they can afford to give their employees 401k benefits.
The SECURE 2.0 Act of 2022 enhances retirement savings options like 401(k)s and 403(b)s, building on the SECURE Act of 2019. It aims to make it easier and more affordable for small businesses to offer retirement plans, offering tax credits to offset costs. New provisions focus on increasing retirement readiness, benefiting both employers and employees and potentially improving retirement outcomes.