On December 29, 2022, the SECURE 2.0 Act was signed into law. Building on previous legislation, SECURE 2.0 strives to expand retirement plan coverage and enhance savings opportunities for middle- and lower-income workers. The act includes over 90 retirement plan provisions, impacting 401(k), 403(b) and defined benefit pension plans.
These regulatory changes will create many new compliance requirements that plan sponsors will need to be aware of, as well as deadlines for implementation that extend over the next several plan years. McDermott’s premier Employee Benefits & Executive Compensation team is ready to assist retirement plan sponsors through the practical compliance changes required by SECURE 2.0.
This resource center highlights the latest announcements and information related to the act, including articles, webinars and thought leadership.