SECURE 2.0 Act in 2023 Budget Bill Changes Retirement Savings

On December 23, President Biden signed a massive $1.7 trillion year-end budget bill that includes bipartisan retirement savings legislation (ie, the SECURE 2.0 Act of 2022).

Mostly modeled after a bill that approved by the House of Representatives in 2021(some provisions come from the Senate EARN Act and another bipartisan bill), the SECURE 2.0 Act of 2022 will reform retirement tax incentives for years to come. This is because the retirement savings package makes numerous changes to existing retirement account rules and some related tax breaks.

Leave a Reply

Your email address will not be published. Required fields are marked *