SECURE 2.0: Retirement Plan Changes Explained

At the end of 2022, the Consolidated Appropriations Act of 2023 (the Act) was signed into law. The bill included the Securing a Strong Retirement Act, commonly known as SECURE 2.0, that gave new guidance and regulations to retirement plan provisions. The new law encourages employers to offer retirement savings plans, extend tax deferred earnings for plan participants and permit easier withdrawals for emergencies.

Brooks Nelson, Partner and Strategic Tax Leader, and Sarah McGregor, Tax Director, welcome Deb Walker, Tax Director, on today’s tax beat podcast to learn more about the many new retirement plan provisions introduced in SECURE 2.0.

This Podcast Will Cover:

• 2:55 – Background on SECURE 2.0
• 4:08 – Provisions Impacting Employers
• 6:07 – Changes to Catch-Up Contributions
• 11:27 – Changes to Required Minimum Distributions
• 16:09 – Unused 529 Plans
• 18:33 – Benefits for Employees

Related Insights:

• SECURE Act 2.0: Summary of Key Tax and Retirement Provisions