The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) was signed in December 2019. Three years later, the President signed the SECURE 2.0 Act of 2022 (SECURE 2.0), which was a component of the Consolidated Appropriations Act of 2023, a "must pass" appropriations bill.

Many changes made via the SECURE Act have not yet taken effect, and SECURE 2.0 makes further revisions to some of the same statutes. Further complicating matters, effective dates under SECURE 2.0 range from immediate to 2033 (largely a function of whether the change creates or reduces tax revenue, but also perhaps a function of the complexity of some of the changes). This Client Alert aims to help employers triage the various components of SECURE 2.0 and plan for 2023. Future Client Alerts will focus on changes effective in later years. Continue reading >