The SECURE Act 2.0: What Does It Mean for Your Company’s Retirement Plan?
Early last year, Congress passed significant changes to retirement savings law that affected many in 2020 and will continue to affect many of us now in and in the future. This new law, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, was part of the massive government spending bill that was approved by Congress on December 19, 2019, and signed into law on December 20, 2019. This bill extensively reshaped the realm of employer-sponsored retirement plans for both employers and employees and enacted the biggest changes to the U.S. retirement system since 2006.