But for anyone who doesn’t have emergency savings, or who has student loans to pay or who is a long-term part-time worker, that challenge is especially hard. Making student loan payments could help boost your 401(k)Paying off student loans can put a crimp in how much someone can save for retirement. That way, the employee can accrue retirement savings even if they aren’t able to make significant contributions themselves. Boosting emergency savings and access to fundsSecure 2.0 includes two provisions that pertain to emergency savings. That means in 2025, any part-timer who has logged 500 years annually in 2023 and 2024 would be eligible to start saving in their employer’s 401(k) and would be eligible for the employer match.

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Persons: Brian Graff, Graff, Gen Xers, NIRS, ” Organizations: New, New York CNN, American Retirement Association, National Institute on Retirement Security, Boomers, ARA, Employees, Secure Locations: New York