What’s In the SECURE Act 2.0?
At the end of December, President Biden signed the Consolidated Appropriations Act of 2023 into law. While the primary purpose of the legislation was to allocate federal funding for the coming year, it did contain several other parcels of legislation within. One of these was the Securing a Strong Retirement Act of 2021, more commonly referred to as the SECURE Act 2.0. The long-awaited legislation aimed at new retirement savings reform is based on many of the changes initially proposed both in the House and Senate. These include changes to plan design, modified RMD rules, matching student loan payments, and expanded eligibility for part-time employees.