Congress has introduced dozens of provisions affecting workplace retirement plans, with the changes starting a couple years ago and continuing over the next few years. A few of the new rules that start in 2024 are tied, somewhat ironically, to saving for college and building up emergency savings.
Why ironic? Because those goals differ from retirement planning and could divert money from it. But by helping people get their other financial ducks in order and allowing them to tap into some retirement funds in a pinch, the new provisions could give reluctant savers the discipline to set aside retirement money for the long haul.
The new provisions stem from the retirement-focused Secure 2.0 Act, which was enacted in late 2022. Most are optional, in the sense that employers can choose to adopt or skip them.
