Preview Mode Links will not work in preview mode

Off The Wall

Mar 27, 2023

SECURE Act 2.0 created new retirement and savings opportunities that were not part of the original SECURE Act. Notably, it gives business owners the ability to be more strategic when choosing what kind of tax-deferred plan is best for them based on their personal and business circumstances. And it also gave them more options for employees. So why should business owners be thinking about meaningful and inspired ways to retain employees and focus on overall employee well-being? 

In this episode of Off the Wall, host Jessica Gibbs, CFP® speaks with Emily Harper, CFP®, Vice President and Partner at Monument Wealth Management. Emily breaks down what business owners need to know about the SECURE Act 2.0, the types of retirement plans that are not available, and the deadlines that have changed. She also explains the factors to consider when choosing between a Solo 401K and a SEP IRA, and highlights opportunities employers now have to support employees, including through matching contributions to Roth retirement plans and matching amounts an employee paid toward student loan debt. 

Then Caroline Clark, a Human Resources Business Partner at Capital One, joins the episode to discuss the significance of creating a meaningful benefits package that meets employees' needs and is easy to access and use. Caroline shares trends in company benefits, and tips for business owners who want to create a benefits package but aren’t sure where to start. 

Caroline and Emily also delve into the philosophy of Stakeholder Theory—which stresses the interconnected relationships between a business and its customers, employees, communities, and others who have a stake in an organization, including the business owner—and its value in creating positive, far-reaching effects. 

“If you take care of the associate, the associate will take care of the customer, and the customer will keep coming back.” Caroline Clark 

Please see important podcast disclosure information at   

Episode Timeline/Key Highlights: 

[02:08] Retirement savings enhancements for business owners under SECURE Act 2.0
[04:34] Factors to consider when choosing between a Solo 401K and a SEP IRA
[08:45] Expanded Roth savings opportunities  
[12:39] The importance of considering employee well-being and how SECURE Act 2.0 can help 
[15:55] Current trends in employee benefit offerings 
[20:32] The importance of collecting feedback from employees to create successful benefits packages 
[22:30] How to create meaningful benefits packages 
[23:29] Ensuring ease of access to benefits for maximum employee value 
[26:50] How employers can reconcile which benefits they can realistically provide with their desired offerings 
[28:25] An explanation of Stakeholder Theory and how it generates values for the business, the employee and the customer 
[32:26] Final advice for business owners on balancing personal priorities with business needs  

About Caroline Clark: 

Caroline Clark is a Senior Manager, Human Resources Business Partner at Capital One where she works with leaders in US Card. Caroline has spent her career working across a variety of industries solving business problems through human solutions. Previously, Caroline led talent strategy and acquisition at the American Bankers Association and Marriott International. Caroline received her MBA from The University of Virginia, Darden School of Business where she served as the President of the Network of Executive Women and was recognized with the C. Stewart Sheppard Distinguished Service award. You can find her taking walks or catching the latest Formula 1 race on the weekends with her husband, Matt, son, Luke, and Spanish Water Dog, Cooper. Connect with Caroline on LinkedIn : 

Resources Mentioned: 

Connect with Monument Wealth Management: 

Visit our website: 
Follow us on Instagram: 
Follow us on Twitter: 
Connect with us on LinkedIn: 
Connect with us on Facebook: 

About “Off the Wall”: 

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. 

Learn more about our hosts, Dave and Jessica on our website at 

Please see important podcast disclosure information at