While the time between Election Day and the year end is still known as a “lame duck session,” Congress increasingly manages to get stuff done. As part of the omnibus spending package, SECURE Act 2.0 was passed on Christmas Eve, 2022. It includes a bunch of retirement plan goodies.
The Bill in its entirety
Here is the bill in it’s entirety. You do not want to read it, but if you’re having a hard time falling asleep, this may do the trick.
https://www.napa-net.org/sites/napa-net.org/files/SECURE Act 2.0 Final Text_122022.PDF
Senate Finance Committee summary of the Act
This is a 19-page summary of the Act courtesy of the Senate Finance Committee. Reading this is probably a better use of your time than the one above.
A condensed version of the major elements of the ACT
There are tons of information about the Act all over the internet. Here is nice condensed version of the major components of it. Start your exploration here.
A great blog to stay abreast of developments regarding SECURE Act 2.0
Fred Reisch was great if his coverage of the various retirement plan rollover regulations. Expect nothing different with this law.
A checklist for individuals who might be impacted SECURE Act 2.0
Most of what we see about the SECURE Act is from the perspective of the employer. Here’s a checklist for consumers.
What Important Issues Should I Consider Regarding Changes Made by the SECURE Act 2.0