SECURE 2.0 includes many provisions related to retirement plans and IRAs that expand participant coverage, help participants preserve income, and simplify plan rules and administrative procedures. A PDF summary of the mandatory provisions and the optional provisions applicable to plans within the ABA Retirement Funds Program (“Program”) can be downloaded to the right. This summary includes highlights but is not intended to be an exhaustive list.
The Program will support all mandatory provisions in accordance with their effective dates. The optional provisions are currently under review as the Program identifies a strategy and timeline. Please take note of the Plan Administrator Watch-Out items – these are important to be aware of as you plan for provisions to go into effect over the next few years. The Program will continue to inform you of all critical items that you will need to act on.
If you would like to review a summary of the full Act, you can download this document.
