Meet the SECURE 2.0 Act

Aaron Ammerman |

The SECURE 2.0 Act of 2022 is a new retirement law that seeks to increase retirement savings and modernize retirement distribution and savings rules.  A few of the provisions are listed below:

  • Allows employees to self-certify hardship withdrawals.
  • Makes it easier to save for retirement while paying student loan debt.
  • Updates required minimum distribution rules (RMD).
  • Encourages saving for short-term expenses in addition to retirement.
  • Increases the catch-up contribution limit and requires certain catch-up contributions to be Roth.
  • Streamlines the retirement savings process when participants change jobs.
  • Eliminates requirements to share disclosures with eligible unenrolled participants.

Click on the link below to read Fidelity's presentation on SECURE 2.0.

Secure 2.0 Act