A set of new retirement measures commonly known as the Secure Act 2.0 was included in the omnibus appropriations measure before Congress, setting the stage for people to save more easily for retirement.
New retirement provisions, commonly known as SECURE 2.0, were included in the omnibus appropriations measure before Congress, setting the stage for people to save more easily for retirement.
“We expect that the legislation will add billions to the retirement savings for small business workers, part-time workers, employees with student loan debt, military spouses, low-income workers, and others. We are reviewing the approximately 100 retirement provisions in the measure with our members to understand the full implications,” Richman said.
Included in the provisions are myriad changes, such as increasing the age for required minimum distributions to 75, allowing student loan payments to be treated as retirement plan contributions for the purpose of company matches, withdrawals for emergency expenses, automatic enrollment in retirement plans, and the creation of a retirement savings lost and found.
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