Washington, Wall Street, and the Workplace: What’s Next for Retirement?
The way Americans are saving through the workplace is changing fast. New policy proposals, new technology, and new expectations from employees are reshaping what it means to offer meaningful financial benefits. For businesses, these shifts present opportunities to strengthen your benefits strategy, support your workforce, and stay ahead of future requirements.
Let’s take a look at what’s happening across Washington, Wall Street, and the workplace, and what businesses need to know as they plan for the future.
What’s Next in Washington
New Legislation: SECURE 3.0
If you’ve heard people talk about “SECURE 2.0” and wondered what it means for your business, you’re not alone. The SECURE Acts of 2019 and 2022 made it easier and more affordable for businesses to offer workplace savings plans by expanding tax credits, encouraging automatic enrollment, introducing new features to help employees save, and more.
Many are now asking whether a SECURE 3.0 is coming next. While nothing is official, there has been growing buzz in Washington about a new round of updates.
What would this mean for employers? If passed, SECURE 3.0 would likely make retirement plans even simpler to offer, through clearer rules, smoother processes, and potentially more support for small businesses and nonprofits. In other words, it wouldn’t be a major overhaul of existing legislation, but it would make it easier to get a plan up and running and help your team save.
Early-Life Savings Accounts
Trump Accounts, proposed in the One Big Beautiful Bill Act, build on early-life savings initiatives. For decades, states and cities have offered Child Savings Accounts (CSAs) and similar programs that help families start saving from birth. Trump Accounts represent the first attempt to take these models national through custodial-style accounts.
What would this mean for employers? These new savings tools may eventually integrate with payroll systems, similar to 529 plans or ABLE accounts, giving you more options to support employees’ financial futures.
Universal Coverage Momentum
You may have heard about the state retirement programs rolling out across the country, or your state may even have one in place already. With 16 programs now live and more than $2.5 billion saved, these initiatives are gaining national attention for their success.
Policymakers are now exploring whether a similar approach could be expanded nationwide to allow every worker to have access to a retirement savings option. For businesses, this could mean a new requirement to offer a qualified workplace retirement plan or facilitate the program.
What would this mean for employers? If your state doesn’t have a program yet, it may soon. Or, a national requirement could eventually take its place. Launching a plan now puts you ahead of future mandates, gives you more flexibility in choosing from different solutions, and shows your employees you’re committed to their financial well-being.
What’s Next on Wall Street
Retirement Savings Are Central to Wealth Building
As more businesses offer retirement plans, many for the very first time, millions of workers are entering this savings system. And for many employees, their workplace retirement plan is the main, and sometimes only, place they are building long-term financial stability. That makes it even more important for employers to offer a modern, easy-to-use plan that meets the needs of today’s workforce.
What does this mean for employers? Offering even a simple retirement plan can meaningfully improve your team’s financial health, help you compete for talent, and improve your workplace culture.
AI Is Transforming the Saving Experience
AI is reshaping financial services at record speed. In 2024 alone, private AI investment hit $252.3B. These tools are beginning to show up in day-to-day savings tools. In workplace retirement plans, AI can help your employees:
- Understand their financial picture more clearly
- Receive personalized guidance tailored to their goals
- Get timely “nudges” that encourage better saving habits
- Stay more engaged with their benefits throughout the year
What does this mean for employers? Choosing a modern platform with AI-driven features can make financial guidance more accessible to your employees, without adding extra work for you. It can also boost plan engagement and help employees save more effectively, increasing the overall value and ROI of the benefits you’re already investing in.
What’s Next in the Workplace
Shifting Employee Expectations
Amid increased financial stress and economic uncertainty, savers are turning to their employers for support with their retirement savings. And they’re not just asking for help, they’re demanding it. In fact, 85% of employees say they expect their employer to offer a retirement plan.
What does this mean for employers? If you don’t already offer a retirement plan, you may be falling behind competitors and missing a powerful opportunity to attract, retain, and support your team.
A Broader Approach to Financial Security
Employers of every size across a variety of industries are embracing financial wellness solutions that go beyond retirement savings. This includes:
What does this mean for employers? Workers want benefits that reflect real financial challenges, not just long-term savings. Adding even just one complementary benefit, like emergency savings or student loan support, can improve retention, morale, and productivity.
Power Your Employees. Strengthen Your Business.
The future of retirement benefits isn’t being shaped in one place. It’s unfolding across Washington, Wall Street, and the workplace. As these forces converge, employers who stay ahead will be better positioned to attract talent, support their teams, and operate with confidence amid new requirements.
As policy shifts, technology evolves, and employee expectations rise, now is the moment to ensure your benefits keep pace. Whether you're launching your first plan or upgrading an existing one, Vestwell can help you navigate these changes and deliver a modern, accessible savings experience for your team.
