In a further attempt to expand and promote retirement savings, Congress passed SECURE Act 2.0 as part of an overall spending bill, the 2023 Consolidations and Appropriations Act. President Biden signed the bill into law on December 29, 2022.

OVERVIEW
The SECURE Act 2.0 is a follow-up bill to the original SECURE
Act passed in late 2019. Although the SECURE Act 2.0 does not
contain any changes as drastic to retirement planning as the
original SECURE Act, it does include a comprehensive set of
provisions that are intended to help a large swath of Americans
and employers with retirement saving. While there are over
90 provisions in the act, many are geared towards changes
to employer sponsored retirement plans. Many of the key
provisions are effective between 2024 and 2025 but some, such
as the increase in RMD age to 73, are effective in 2023. This paper
highlights some key financial planning takeaways of the SECURE
Act 2.0 and how they impact you.

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