- Offer an EACA that allows permissible withdrawals
- Begin with an auto-enrollment rate between 3-10% and increase by 1% each plan year until reaching at least 10%, but not more than 15% (10% for non-safe harbor plans until the 2025 plan year)
- Direct a participant’s contributions into a qualified default investment alternative (QDIA) that protects the principal if they don’t make investment elections
- Participants can choose to defer more or less than the auto-enrollment rate—or elect not to defer at all
Stay tuned. If your plan rules need updating, we’ll contact you in the second quarter of 2024.
*Exceptions apply. If you have any of the following, you are excluded from adding the SECURE 2.0 auto-enrollment features:
- A small business with 10 or fewer employees
- A business that has existed fewer than 3 years
- A church or governmental plan