Client Login Contact Us
Client Login Contact Us

SECURE Act 2.0 Implementation Timeline

Blake Faust
03/23/2023

The SECURE 2.0 Act was passed on December 23rd, 2022 and aims to enhance the original SECURE Act of 2019 by adding new provisions to qualified retirement plans.

Overview & Background

In December of 2022, Congress passed the Consolidated Appropriations Act, 2023, which contains a large section covering retirement in the U.S. referred to as SECURE 2.0. The Act builds upon or enhances the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act).

The SECURE Act 2.0 includes 92 new provisions with the ultimate goal of increasing savings, offering more flexibility to those contributing to a retirement plan, and lowering the employer cost to start a new retirement plan for their business. Several of these provisions went into effect at the beginning of this year (January 1st, 2023) while the rest will be implemented between now and 2027.

Below is an implementation calendar, detailing when each major provision will go into effect. Download a PDF version of this calendar here.

To learn more about the SECURE Act 2.0, the 92 provisions, and the impact they may have on your business’s retirement plan, we invite you to connect with our team of experts.

 

Sources and References

SECURE Act 2.0 Legislation: https://www.finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf

Abbey Street SECURE Act 2.0 Implementation Timeline PDF: https://abbeystreet.com/wp-content/uploads/2023/03/Abbey-Street-Secure-Act-2.0-Implementation-Timeline.pdf

Abbey Street, LLC (“Abbey Street”) is a Registered Investment Advisor (“RIA”) registered with the SEC. Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. Abbey Street renders individualized responses to persons in a particular state only after complying with the state’s regulatory requirements, or pursuant to an applicable state exemption or exclusion. All investments carry risk, and no investment strategy can guarantee a profit or protect from loss of capital. The information contained in this article is intended to provide general information about Abbey Street and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement and shall be subject to the terms and conditions therein. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies and to be able to contact us for further information. You should not rely on any information provided on our web site in making investment decisions. Market data, articles and other content discussed in this video are based on generally-available information and are believed to be reliable. Abbey Street does not guarantee the accuracy of the information contained in this video. The information is of a general nature and should not be construed as investment advice and relied upon in making investment decisions. Abbey Street will provide all prospective clients with a copy of our current Form ADV, Part 2A (Disclosure Brochure) prior to commencing an advisory relationship. However, at any time, you can view our current Form ADV, Part 2A at adviserinfo.sec.gov.  In addition, you can contact us to request a hardcopy.

About The Author

Blake Faust

Blake Faust has nearly a decade of retirement plan industry experience and holds the Certified Financial Planner™, Accredited Investment Fiduciary®, Chartered Retirement Plan Specialist®, and Certified Plan Fiduciary Advisor™ designations.

View bio

Get in touch with Abbey Street

Start a conversation to learn more about who we are and what we do. Our team is ready to make an impact.

Contact Us