Retirement Plan Updates

Get the latest updates for your company’s retirement plan.

PlanPremier®-TPA

New participant enrollment videos

Give employees an overview of the enrollment process and encourage them to start saving with these short how-to videos. The videos are available in both English and Spanish.

Watch: How to enroll in your workplace retirement plan

• PlanPremier (English)
• PlanPremier (Spanish)

Our payroll integration service has been expanded

We make it easy to connect with a broad range of payroll providers to help plan sponsors simplify contributions and protect sensitive information. Check out the payroll providers available through our network connections and additional providers through Payroll Integrations. In addition to 180 standard integration, we offer 360 payroll integration to further simplify the payroll process for plan sponsors.

Learn more about our payroll integration service and direct vendor connections:

• PlanPremier Payroll Provider Network Guide

401(k) contribution limits for 2025

The annual employee contribution limit for 401(k) plans increased by $500 to $23,500. Participants aged 50-59 and 64+ can also make a catch-up contribution of $7,500. And participants aged 60 to 63 in 2025 can make a higher catch-up contribution of $11,250.

Find out more about the contribution limits.

Simplify small balance distributions

Our automated mandatory distribution service makes handling the small balances that employees leave behind easier.

We’ll identify and notify impacted plan participants and process cash-out distributions as needed. And when participants are eligible for a rollover, we’ll roll their balance to an IRA at Inspira Financial, which now has a reduced annual administrative fee of $20 for new accountholders.

Learn more about this time-saving service and how to get started.

Get the latest SECURE 2.0 Act provisions updates

The SECURE 2.0 Act marked a significant step toward enabling more small business owners and employees to pursue retirement stability. Get the latest updates on our recordkeeping support to help you take advantage of key SECURE 2.0 provisions.

CHECK STATUS

Make it easier to manage your retirement plan

From online enrollment to automatic email notifications, check out these key plan features that can help plan sponsors save time and improve the participant experience.

MAKE IT EASY

Prepare for important year-end deadlines

As the plan year ends, there are several deadlines and potential action items that plan sponsors should be aware of. These include year-end notices and disclosures, mandatory distributions, required minimum distribution reminders, and more.

Refer to the following resources to help you meet these year-end retirement plan obligations.

• PlanPremier-TPA Plan disclosure checklist
• PlanPremier-Bundled Plan disclosure checklist

Increased catch-up contribution limit

Effective January 1, 2025, a provision of the SECURE 2.0 Act of 2022 will increase the annual catch-up contribution limit for participants aged 60 to 63.

The increased limit will be the greater of $10,000 or 150% more than the regular catch-up limit in 2025 and indexed for inflation in following years. For plans that offer catch-up contributions, no action is needed for employees to take advantage of the increased limit. However, plan sponsors may need to work with their payroll providers to make sure they account for the new catch-up limit.

Check the status of our recordkeeping support for other key SECURE 2.0 provisions.

MORE SECURE 2.0

Roth catch-up contributions may require plan update

If your plan offers age 50 catch-up contributions, but you don’t offer Roth contributions, we encourage you to add the option now. (You may also remove catch-up contributions if you don’t want to offer Roth contributions.)

The SECURE 2.0 Act requires catch-up contributions for higher earners to be Roth after-tax contributions, even if regular contributions are pretax. Participants with compensation below $145,000 (to be adjusted for inflation) are exempt and can elect pretax or Roth catch-up contributions (if available).

To add Roth contributions to your plan, contact your Capital Group plan representative. Also, be sure to work with your payroll provider to enable Roth contributions.

Learn about loan policy updates

For plans that allow loans, the loan policy has been updated to offer more flexibility and better accommodate parameter variation.

Previously, information about loan fees was listed in the loan policy. Participants can find this information in the loan application, and plan sponsors should refer to the disclosure documents in the Plan Service Center.

To view the new loan policy, go to the Plan Service Center. Then go to Plan and select Plan documents.

Express delivery fee change

The express delivery fee for participant distribution and loan checks will increase from $30 to $40 effective September 3, 2024. Express delivery services are offered through FedEx® or USPS Priority Mail® and can be requested by participants through our online distribution request process.

New report for missing participants

A new quarterly report will be automatically sent to help you identify any participants who may have an invalid mailing address.

View Locating missing plan participants to learn how you can help ensure that participants receive required account information, distribution checks and more.

E-delivery changes for PlanPremier

We’re enhancing our electronic delivery services of required participant statements and other important plan notices. Currently, new participants who provide a work and/or personal email address receive an initial paper notification by mail that includes information about e-delivery, including how to opt for paper delivery.

Beginning in September, statements, confirmations and plan disclosure documents for new participants with a work email provided by the plan sponsor will be delivered to the work email while the participant is active in accordance with the “wired at work” method permitted by the Department of Labor (DOL).* As a result of this change, new participants will no longer need to receive an initial paper notification by mail which may enable documents to be delivered more quickly.

Note: This enhancement does not impact current participants nor participants who only provide a personal email address. Participants who have already opted for paper delivery will continue to receive documents by mail. Additionally, no changes will be applied to 403(b) plans or plans set up with paper delivery.

Optional automated notice delivery

If a plan uses our optional automated plan notice delivery service, please note that these services will include the same changes.

* To ensure delivery via the “wired at work” method satisfies DOL rules, the work email addresses provided should:

• Provide employees with the ability to access the email and links at any location where they are reasonably expected to perform their duties as an employee, and
• Be used as an integral part of their employee duties.

Help participants save more with interactive tools

Inspire participants to save more by setting a personalized retirement goal. Our website makes it easy for participants to track their progress each time they log in ― and potentially make changes to improve their projected retirement outcome.

LEARN MORE

How to make plan notices easy

Help save time and money by streamlining the process for plan notices.

We can automatically create a range of plan notices and deliver them via email, potentially reducing plan costs, or by mail for $2.50 per mailed notice. We can also mail any plan notice that plan sponsors create and upload for $2.00 per mailed notice.

LEARN MORE

Our website addresses have changed

We’ve updated our retirement plan website addresses as shown below. In doing so, we hope to make it easier to do business with us, and more clearly communicate who we are and the products and services we offer. Please be sure to update your bookmarks.

Website

New address

RecordkeeperDirect

Participant

capitalgroup.com/participant/rkd

Plan sponsor

capitalgroup.com/sponsor/rkd

Third-party administrator

capitalgroup.com/tpa/rkd

PlanPremier

Participant

capitalgroup.com/participant/planpremier

Plan sponsor/PartnerLink — PlanPremier-Bundled

capitalgroup.com/sponsor/planpremier

Plan sponsor/PartnerLink — PlanPremier TPA

capitalgroup.com/sponsor/planpremiertpa

SIMPLE IRA Plus

Participant

capitalgroup.com/participant/simpleiraplus

Plan sponsor

capitalgroup.com/sponsor/simpleiraplus

For help with your retirement plan, contact your financial professional or call us at:

call (877) 872-5159

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Use of this website is intended for U.S. residents only.

Capital Client Group, Inc.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

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