January 04, 2023

SECURE Act 2.0: What Defined Contribution Plan Sponsors Need to Know

Spotlight on Benefits

Congress included “SECURE 2.0 of 2022” in the Consolidated Appropriations Act, 2023, the $1.7-trillion omnibus spending bill, which was signed by President Biden on December 29, 2022 (the date of enactment). Secure 2.0 is a follow-up to the Setting Every Community Up for Retirement Enhancement Act passed in 2019, now known as “SECURE 1.0.”

This article contains a brief rundown of some of the highlights in SECURE Act 2.0 of 2022 for defined contribution plan sponsors.

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