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.
SECURE 2.0 permits but does not require plans to add emergency savings accounts beginning with the 2024 plan year, but only non-highly compensated employees may contribute to these accounts.
.Emergency Savings Accounts and Distributions - Brief overview. As reported previously, SECURE 2.0 permits but does not require plans to add emergency savings accounts.
On December 29, 2022, President Biden signed into law the Secure 2.0 Act of 2022 as part of the Consolidated Appropriations Act of 2023 (collectively, the "Act"). The Act contains numerous changes to laws governing.
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.