SECURE Act 2.0 - What you Need to Know
Passed into law on December 23rd, 2022, the SECURE 2.0 Act of 2022 builds on the improvements made by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019 with more than 90 changes affecting qualified retirement plans, IRAs, SIMPLEs, SEPs, ABLEs and 529 plans.
SECURE 2.0 includes most of the major elements from the three separate retirement bills it consolidated. Here are summaries of the key provisions related to 401K plans. Not every provision is summarized below, such as those that affect 401(k) plans that are starting up.
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Warren D. Stribling, IV, CFP®
Principal
warren.stribling@striblingwhalen.com
Brian E. Whalen, CFP®, CIMA®
Principal
brian.whalen@striblingwhalen.com
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