SECURE 2.0 becomes law
On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, an omnibus bill that includes “SECURE 2.0” legislation and builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.
The Consolidated Appropriations Act of 2023 that was signed into law on Dec.29, 2022 included new legislation (“SECURE 2.0”) that will have significant impacts to employee retirement plans by expanding on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.SECURE 2.0 introduces key updates to retirement plans through over 90 provisions, including increased minimum distributions, improved retirement plan incentives, and changes to employer-sponsored retirement plan enrollment.
To understand the full scope of SECURE 2.0’s impact, view our overview of the key provisions from our benefit plan experts.
