The Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0) was enacted in December 2022 as part of the year-end omnibus spending bill. Even though several.
In a rare display of bipartisanship these days, Congress approved major changes to retirement plans and their participants in the closing days of 2022. Included in the Consolidated.
The President signed the SECURE 2.0 Act, which was a part of the Consolidated Appropriations Act of 2023, a must pass appropriations bill. SECURE 2.0 includes more than 90 provisions and effective dates range from immediate to 2033. The Act is 3 times longer than the original.
Passed by Congress as part of Consolidated Appropriations Act, 2023, SECURE 2.0 Act of 2022 contains provisions that affect qualified retirement plans. Provisions described below are generally effective as of the first day of the plan year beginning after December 31, 2023.