The SECURE 2.0 Act was included in a 4,155-page omnibus spending bill that passed on December 23 when President Biden signed it into law. We broke down the law in the latest Talking Benefits podcast episode, focusing on major implications for plan sponsors, including:

  1. Student loan match
  2. Emergency savings accounts
  3. Increasing the RMD age
  4. Establishment of starter 401(k) plans for employers with no current retirement plan
  5. Creating a retirement savings lost and found
  6. Long-term part-time employees and their eligibility to participate in a defined contribution plan
  7. Auto enrollment requirements
  8. Higher catch-up contribution limits.

The podcast also went into more detail on after-tax options and provisions tied to distributions for purposes other than retirement. We also did a rapid-fire section that covered:

  1. Qualifying longevity annuity contracts
  2. SIMPLE and SEP Roth IRAs
  3. Early distribution penalty for domestic abuse victims
  4. Tax credit for employing military spouses
  5. Tax credit for small employer pension plan startup costs.

If you want to take a deeper dive into the SECURE 2.0 Act world, give this episode a listen!

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Anne Patterson
Associate Director of PR & Communications

Anne Patterson

Marketing Communications Manager Favorite Foundation Product: Foundation Community. It’s like LinkedIn but only for Foundation members. They can post questions, share best practices, etc—all with fellow members who also live and breathe employee benefits. Benefits-related Topics That Interest Her Most: Workplace wellness (especially mental health), diversity, equity and inclusion, behavioral decision making, family-friendly benefits, payroll audits. Personal Insight: When she’s not busy analyzing the inner workings of her toddler’s brain (does anyone actually know?!), Anne finds joy in home renovation and décor, haiku writing, watching Jeopardy, creating charcuterie boards, and bicycling.

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