Tucked inside the $1.7 trillion government spending bill set to be signed by President Biden this week are a host of significant retirement reforms, including a series of provisions that experts say is nothing short of a redefinition of the private retirement system itself.
The far-reaching new law has ideas that link people’s efforts to save for the future with more pressing needs, especially struggles to pay off student loans and put money aside for an emergency.
The changes for 2023 will “stretch and expand the retirement system to recognize that people’s financial lives are interwoven and complicated,” said Timothy