Your 401K Is About To Change | What To Expect
Published: 2022-04-08
Status:
Available
|
Analyzed
Published: 2022-04-08
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Employers will be required to automatically enroll employees into a 401k at a 3% pre-tax contribution level.
"the first part of this phase will require employers a mandatory automatic enrollment into a 401k plan at a pre-tax contribution level of three percent of the employee's yearly salary"
Pending
Employers will be required to automatically enroll employees into a 401k plan with a 3% pre-tax contribution.
"the first part of this phase will require employers a mandatory automatic enrollment into a 401k plan at a pre-tax contribution level of three percent of the employee's yearly salary"
Pending
Employees will be required to automatically increase their 401k contributions by 1% annually, up to a maximum of 15% of their pay.
"Another part of this act will require people to save an additional one percent per year until at least 10 percent but no more than 15 percent of the yearly pay"
Pending
Employees will be required to automatically increase their 401k contributions by 1% annually until they reach at least 10% and no more than 15% of their pay.
"Another part of this act will require people to save an additional one percent per year until at least 10 percent but no more than 15 percent of the yearly pay"
Pending
The 401k catch-up contribution limit for individuals aged 62-64 will be increased to $10,000.
"for people ages 62 to 64 they want to increase the limit to ten thousand dollars"
Pending
Employers will be required to automatically enroll employees into 401k plans with a 3% pre-tax contribution.
"the first part of this phase will require employers a mandatory automatic enrollment into a 401k plan at a pre-tax contribution level of three percent of the employee's yearly salary."
Pending
The 401k catch-up contribution limit for individuals aged 62-64 will increase to $10,000.
"for people ages 62 to 64 they want to increase the limit to ten thousand dollars"
Pending
Individuals' 401k contributions will automatically increase by 1% annually, up to a maximum of 15% of their yearly pay.
"Another part of this act will require people to save an additional one percent per year until at least 10 percent but no more than 15 percent of the yearly pay"
Pending
Starting in 2023, catch-up contributions to 401ks will only be applied to Roth IRA accounts.
"starting in 2023 these catch-up contributions will only be applied inside of Roth IRA accounts"
Pending
Starting in 2023, catch-up contributions will only be allowed within Roth IRA accounts.
"starting in 2023 these catch-up contributions will only be applied inside of Roth IRA accounts"
Pending
Employers will have the option to make matching contributions to Roth IRA accounts starting in 2023.
"starting in 2023 they want to give employers the option to do the employer matching contributions inside of those Roth IRA accounts"
Pending
The annual catch-up contribution limit for individuals aged 62-64 in 401k plans will increase to $10,000.
"for people ages 62 to 64 they want to increase the limit to ten thousand dollars"
Pending
Employers will have the option to make matching contributions within Roth IRA accounts starting in 2023.
"starting in 2023 they want to give employers the option to do the employer matching contributions inside of those Roth IRA accounts"
Pending
Starting in 2023, catch-up contributions will only be applicable within Roth IRA accounts.
"starting in 2023 these catch-up contributions will only be applied inside of Roth IRA accounts"
Pending
The age for Required Minimum Distributions (RMDs) from retirement accounts will increase incrementally, reaching 75 by 2033.
"the rmd will be 72 by 2022 73 by 2023 and 74 by you guessed it 2030. yeah I know weird and 75 by 2033"
Pending
Required Minimum Distributions (RMDs) from retirement accounts will be raised to age 72 in 2022, 73 in 2023, 74 in 2030, and 75 in 2033.
"the rmd will be 72 by 2022 73 by 2023 and 74 by you guessed it 2030. yeah I know weird and 75 by 2033."
Pending
Beginning in 2023, employers will have the option to offer matching contributions within Roth IRA accounts.
"starting in 2023 they want to give employers the option to do the employer matching contributions inside of those Roth IRA accounts"
Pending
The eligibility period for part-time workers to access a 401k will be reduced from three years to two years.
"if you're part-time it's going to take you three years of working somewhere before you get access to a 401k but this will shorten that duration down to two years"
Pending
The time required for part-time workers to gain access to a 401k will be reduced from three years to two years.
"if you're part-time it's going to take you three years of working somewhere before you get access to a 401k but this will shorten that duration down to two years"
Pending
The age at which Required Minimum Distributions (RMDs) must begin will gradually increase: 72 in 2022, 73 in 2023, 74 in 2030, and 75 in 2033.
"the rmd will be 72 by 2022 73 by 2023 and 74 by you guessed it 2030. yeah I know weird and 75 by 2033"
Pending
Companies will be allowed to offer 401k matching contributions for employees who are making student loan repayments.
"they want to allow 401K matches for student loan repayments"
Pending
The time required for part-time workers to gain access to a 401k will be reduced from three years to two years.
"if you're part-time it's going to take you three years of working somewhere before you get access to a 401k but this will shorten that duration down to two years"
Pending
Employers will be allowed to offer 401k matches for employee student loan repayments.
"they want to allow 401K matches for student loan repayments"
Pending
A database will be created to help individuals find lost 401k savings from previous employers.
"they want to build a 401k savings lost and found database just in case you have some savings left over from a previous employer that you might have left"
Pending
Companies will be allowed to provide 401k matching contributions for employee student loan repayments.
"they want to allow 401K matches for student loan repayments"
Pending
The SECURE 2.0 Act is likely to pass into law later in the current year due to bipartisan support.
"there is a lot of support in Congress from both sides so more than likely this bill will pass in one form or another later this year"
Pending
A database will be created to help individuals locate forgotten 401k savings from previous employers.
"they want to build a 401k savings lost and found database just in case you have some savings left over from a previous employer"
Pending
A database will be created to help individuals locate forgotten 401k savings from previous employers.
"they want to build a 401k savings lost and found database just in case you have some savings left over from a previous employer that you might have left"
Pending
The SECURE 2.0 Act is highly likely to pass into law later in the current year, with bipartisan support.
"there is a lot of support in Congress from both sides so more than likely this bill will pass in one form or another later this year"
Pending
The SEC 2.0 Act is highly likely to pass into law later this year.
"more than likely this bill will pass in one form or another later this year"
Pending