There soon may be new retirement rules in place that could make it easier for Americans to accumulate retirement savings — and make it less costly to withdraw them — if lawmakers pass a major spending package this week.
The retirement savings provisions – known as Secure 2.0 – were drawn from a House-passed bill and bills that were passed by two Senate committees.
“[SECURE 2.0] will help increase savings, ensure greater access to workplace retirement plans, and provide more workers with an opportunity to receive a secure stream of income in retirement,” said Thasunda Brown Duckett, president and CEO of TIAA, one of the largest US retirement service providers.
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