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Savings & Retirement

The Biggest Changes for 401(k) Retirement Savers

Spending bill signed by President Biden includes expanded access to retirement plans, new rules for 529 accounts and student loan payment matching.

    

    

Source: Getty Images

After a dismal year for retirement savers, new legislation could make it a little easier to put money aside in 2023.

The changes, which were part of an omnibus spending bill signed into law by President Joe Biden at the end of December, have been criticized for mainly benefiting high-income workers and for not going far enough to address America’s retirement crisis.