The SECURE Act 2.0 became law as part of the Consolidated Appropriations Act, 2023 enacted on December 29, 2022. It contains a wide range of provisions designed to encourage retirement savings. Additionally, it brings about changes affecting required minimum distributions, Roth IRAs and designated Roth accounts. The Act addresses desirable outcomes, including:
- Creating improved retirement security;
- Ensuring retirement income preservation;
- Simplifying retirement plan rules; and
- Enhancing federal revenue.
After completing this course, students should be able to describe the SECURE Act 2.0’s provisions including:
- Identifying the provisions designed to expand retirement plan coverage and increase retirement savings;
- Describing the provisions designed to enable plan participants to preserve their retirement income;
- Listing the provisions that simplify retirement plan rules; and
- Identifying those provisions designed to enhance federal revenue.
