Secure Act 2.0
The $1.7 trillion budget bill signed by President Biden on Dec. 29, 2022, included the bipartisan SECURE Act 2.0. The legislation expands on many of the provisions in the original SECURE Act, which was signed into law in 2019. SECURE is an acronym for Setting Every Community Up for Retirement Enhancement, and the combined goal of both pieces of legislation is to remove obstacles and create incentives to help more Americans do a better job of saving for retirement. In this report, we’ll highlight some of the more than 100 provisions in the SECURE Act 2.0 that could impact your retirement savings and/or savings strategy immediately or in the coming years.