April 24, 2023 | 6 Minute Read
Senior Retirement Strategist
Competing priorities are a fact of life for today’s retirement savers. Juggling these priorities, planning and saving earlier, and leveraging financial resources can make these goals more attainable. SECURE 2.0 provides new features that can be offered in workplace retirement plans, making it easier for individuals to balance these needs.
Many of the SECURE 2.0 provisions will become effective over the next few years, allowing plan sponsors to consider the impact to their employees and organizations. Through the expanding role of the workplace retirement plan, employers have the opportunity to play an increasingly important role in the financial wellbeing of their employees.
401(k): A 401(k) plan is an employer-sponsored, tax advantaged retirement savings plan. 401(k)s are largely self-directed: Plan participants decide how much they would like to contribute from their salary, and which investments from among those offered by the plan they would like to invest in.
529 Plan: A 529 plan is an investment account that offers tax benefits when used to pay for qualified education expenses for a designated beneficiary.
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This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.
Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. These forecasts do not take into account the specific investment objectives, restrictions, tax and financial situation or other needs of any specific client. Actual data will vary and may not be reflected here. These forecasts are subject to high levels of uncertainty that may affect actual performance. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. These forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. Goldman Sachs has no obligation to provide updates or changes to these forecasts. Case studies and examples are for illustrative purposes only.
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Date of first use: April 24, 2023. 314021-OTU-1777398