President Biden closed out 2022 by signing a legislative package into law that included the Securing a Strong Retirement Act of 2022—or as it is more commonly known: SECURE 2.0. Supporters of the bipartisan legislation say it will increase access to 401(k) and individual retirement plans, especially among low- to middle-income workers. It is also expected to provide incentives for U.S. workers to save for retirement and make it easier for small
businesses to offer retirement plans.
SECURE 2.0 builds on the Setting Every Community Up for Retirement Act of 2019 (SECURE1.0), which included a broad range of provisions intended to improve access to retirement plans for both employers and workers. The sections that follow provide a brief overview of the significant provisions of SECURE 2.0 to help our members understand the changes and the
impact they could have on their clients……..