‘Newsies’

From A1 nate RMDs for workplacebased Roth savings plans, comparable to current rules for Roth IRAs.

Each night, a different NHHS educator will play Teddy Roosevelt in the “Newsies” production.

As a fundraiser leading up to the show, NHHS students voted to choose the four teachers who will fill the role.

“Newsies” will be performed Thursday, March 2 at 6:30 p.m., Friday, March 3 and Saturday, March 4 at 7 p.m., and Sunday, March 5 at 2 p.m.

Emergency savings: New emergency savings accounts, associated with an employer’s retirement plan, can be established for many employees. It will allow them to accumulate up to $2,500 in the account, with penaltyfree access to the funds allowed once a month, to meet current needs.

Other key changes beyond 2024

Other provisions of the SECURE 2.0 Act that will take effect in 2025 include: The ability of workers age 60 to 63 to make catch-up contributions of $10,000 per year above the standard limit for workplace retirement plans; A requirement that employers with 401(k) or 403(b) plans automatically enroll eligible employees in a workplace savings plan, starting at a contribution rate of at least 3 percent (workers can choose to opt out of the plan); The ability of part-time workers to participate in a workplace retirement plan once they’ve worked at least 500 hours for two consecutive years, rather than the current three-year threshold.

What does it mean for you?

How can these changes enhance your own retirement savings plan? It may be beneficial to talk to your financial advisor to determine how you might be able to leverage the new rules listed here and others to help secure your retirement savings plan.

Jeff Jolly, CFP, is a Private Wealth Advisor and Sr. Vice President with Ameriprise Financial Services, LLC, in North Haven. He specializes in fee-based financial planning and asset management strategies and has been in practice for 16 years. Contact him at 203-407-8188 ext. 330.