When we had our inaugural Retirement Roundtable during That 401(k) National Virtual Conference last January, I would see some of the chat in the Zoom room among attendees. Some were annoyed at some of the SECURE 2.0 requirements that new plans have to offer automatic enrollment in 2025, as well as states forcing employers to offer their own plans or join the state’s IRA program.
I’m not the biggest supporter of government involvement. Ronald Reagan said it best when he said: “The top 9 most terrifying words in the English Language are: I’m from the government, and I’m here to help.” The way I see it, is that getting more employees deferring and more employees getting retirement plan coverage is a good thing. That means more assets and more plans, and that’s a good thing for anyone who makes shekels in the retirement plan business.