SECURE 2.0 Act is OFFICIAL!
On December 23, 2022 the SECURE 2.0 Act was passed by both the House of Representatives and the U.S. Senate. President Biden is expected to sign this legislation before December 30th as part of the Omnibus Funding Bill to fund the U.S. Government through fiscal year 2023. The SECURE 2.0 Act is the result of two years of negotiations and is designed to expand retirement plan coverage and plan participation with the goal of increased retirement readiness.
The SECURE 2.0 Act contains over 100 provisions that will be phased in over the next 10 years. Here are just some of the most impactful highlights:
intellicents is still digesting all of the provisions of SECURE 2.0 Act. We will continue to provide you with updates including specifics as to how many of these provisions will be administered through your recordkeeper.