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9 notable provisions from the SECURE 2.0 Act of 2022

On December 29, 2022, President Joe Biden signed the Consolidated Appropriations Act of 2023 into law. At over 4,000 pages the Act included the SECURE 2.0 Act of 2022 (SECURE 2.0), a sprawling collection of 92 retirement plan-related provisions that build on the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE ‘19). There are changes intended to encourage plan-sponsorship and provide additional opportunities to save, changes that (in practical terms) will increase and others that will (hopefully) reduce administrative burdens, and changes that raise revenue. Some changes are effective immediately, some in the next few years, and others that will not take effect for many years (if ever).

Click here for highlights and perspective on 9 provisions that may be of interest to employers.