Is workplace compliance on your radar?   The workplace compliance landscape is constantly evolving, and 2024 brings several significant changes that HR managers need to understand. With the implementation of the SECURE 2.0 Act, mastering these changes is crucial for maintaining compliance and maximizing benefits for your employees.  5 Key changes to watch  1. No RMD for Roth Accounts  One of the most impactful changes is the elimination of required minimum distributions (RMDs) for Roth accounts. This adjustment means participants may need to revisit and modify their withdrawal strategies.  2. Super catch-up contribution limits  Beginning in 2025, employees ages 60-63 will be given the opportunity to save more in catch-up contribution limits, saving the greater of $10,000 or 150% of the current limit. For example, using the current 2024 catch-up limit of $7,500, someone aged 60 will be permitted to contribute $11,250.  3. Student loan payments matc...

The retirement industry has been buzzing since the SECURE 2.0 Act was signed into law last December. This new, comprehensive legislation has sparked a lot of discussion. As with any major reform, it will take time for the industry to fully adapt and understand all its implications. Following our April 11 webinar on the first three months of the industry’s response, our team reconvened to discuss some of what we have heard from our client and vendor partners and to respond to some of the great questions we heard from attendees. Panel participants included the following HBS team members: Noah Buck, Christina Bauer-Dobias, Sean Bayne, Vincent Bocchinfuso and Kathleen Coonan. The Discussion SB – Throughout the webinar, I wanted to stress two things: 1) confusion about where to start and what is expected from plan sponsors is normal; and 2) even more than three months in, this is a developing situation and people should expect changes as time goes on. With those in mind, engagement through...