TCWGlobal Redefines Retirement Planning with SECURE Act 2.0!

At TCWGlobal, we understand that preparing for retirement is crucial, and we're committed to ensuring that our employees have the best tools and opportunities to secure their financial future. With the introduction of the SECURE Act 2.0, new provisions have been put in place to enhance retirement savings, and we’re proud to say that TCWGlobal is leading the way in adopting these changes. 

Provision 109: Enhanced Savings Opportunities for Older Employees 

Provision 109 is designed to help older employees save even more as they approach retirement. TCWGlobal is opting into this provision, allowing those who are closer to retirement age to make additional contributions to their retirement accounts. This initiative provides our experienced team members with the opportunity to build a stronger financial foundation as they prepare for their next chapter. 

Provision 125: Inclusive Retirement Plan Access for Part-Time Employees 

TCWGlobal has always believed in the importance of inclusivity, and Provision 125 aligns perfectly with our values. Even before this provision became law, TCWGlobal was ahead of the curve by ensuring that part-time employees have access to our retirement plan. We understand that every team member, regardless of their work schedule, deserves the opportunity to save for their future. 

Provision 325: Aligning Roth 401(k) with Roth IRA Flexibility 

Provision 325 brings a significant change by removing the requirement for Required Minimum Distributions (RMDs) from Roth 401(k) balances, aligning them with the rules for Roth IRAs. TCWGlobal will be implementing this change, offering our employees greater flexibility in managing their retirement savings. This adjustment allows for more control over when and how you access your funds, ensuring your savings work best for you. 

Provision 107: Extended RMD Age for Greater Growth Potential 

The SECURE Act 2.0 also includes Provision 107, which increases the age at which RMDs must be taken from retirement plans, from 72 to 73. TCWGlobal has already adjusted to this new requirement, giving our employees additional time to grow their savings before they need to start drawing down on their accounts. 

Leading the Way in Retirement Planning 

At TCWGlobal, we’re not just keeping up with changes in retirement planning—we’re leading the way. By proactively adopting key provisions of the SECURE Act 2.0, we’re ensuring that our employees have access to the best possible options for building a secure and comfortable retirement. We’re committed to supporting you every step of the way, providing the resources and flexibility needed to achieve your financial goals. 

We are also continually exploring additional provisions from the SECURE Act 2.0 that may further benefit our team. As we stay ahead of regulatory changes, our goal is to offer even more enhancements to support your retirement planning. Your future is important to us, and with these ongoing efforts, TCWGlobal is proud to continue our tradition of excellence in retirement planning. 

For more information on TCWGlobal’s 401(k) and Roth plans and other perks we offer, please visit https://www.tcwglobal.com/knowledge/401k.