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SECURE Act 2.0

SECURE Act 2.0

| January 18, 2023

Congress just passed the massive SECURE Act 2.0 in an effort to help Americans bolster their retirement savings and strengthen their long-term financial security. In this episode, I’ll discuss how it expands upon the original SECURE Act, the purpose of the legislation, and (most importantly) how it might affect you.

So what do you need to know about this new legislation? What is changing? The minimum distribution age is changing, catch-up contributions are changing, beneficiaries of retirement plans are getting an exciting update, and more. Listen in as I go through the key provisions that allow and encourage more retirement savings.

Listen To The Episode Here:

What You’ll Learn: Ideas Worth Sharing:

  • The main goal of the SECURE Act.

  • How minimum distributions will be changing.

  • Updates to catch-up contribution limits.

  • How Roth accounts are changing.

  • An exciting change for beneficiaries of retirement plans.

  • 401(k) changes and expansions for enrollment.

  • Emergency savings that are now available through employers.

  • New student loan pay-off incentives.

  • The new retirement savings "lost & found."

Ideas Worth Sharing:

“The primary purpose of the SECURE Act is to encourage more businesses to offer a retirement plan for their employees and for more employees to save more for their retirement.” - Regina McCann Hess

“Beginning in 2024, employers can establish an emergency savings account where employees can save up to $2,500 in a Roth-style account.” - Regina McCann Hess

“Review the new provisions for the SECURE Act 2.0 and speak with your advisor to incorporate the appropriate ones into your financial plan and make the best of it.” - Regina McCann Hess


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