The recently passed SECURE Act 2.0 legislation includes around 90 provisions that are designed to strengthen the retirement landscape. While it's important for employers, plan sponsors and HR professionals to learn how the new law will impact their company retirement plan, the sheer number of changes and moving parts within the legislation can be overwhelming to keep track of.
With this in mind, we are happy to provide these SECURE Act 2.0 Year-by-Year Reference Guides for 401(k) and 403(b) plans. These guides list many of the important provisions in SECURE Act 2.0 that apply to 401(k) and 403(b) plans. While the Act has additional provisions that could affect the design or operation of 401(k) and 403(b) plans, the focus of this list is to provide plan sponsors with a handy chart of the year-by-year provisions that will likely be most impactful on their plans.
A unique feature of the SECURE Act 2.0 is that many of its provisions are optional. In other words, plan sponsors can adopt these new provisions if desired (for example, if they would benefit the workforce
covered by the plan), but not adopt them if not desired. Of course, the Act also includes mandatory provisions that will need to be satisfied on a timely basis in order to avoid disqualification of the plan. The charts indicates which are mandatory and which are optional, as well as effective dates and key points for each provision.
Click on the image to view the 401(k) Plans guide online OR save to your device using the Download PDF option:
HUB-CSi SECURE 2.0 Year by Year 401k Reference Guide
Download PDF • 511KB
Click on the image to view the 403(b) Plans guide online OR save to your device using the Download PDF option:
HUB-CSi SECURE 2.0 Year by Year 403b Reference Guide
Download PDF • 854KB