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ARTICLE · 17 JANUARY 2024

Congress Proposes SECURE 2.0 Technical Corrections Bill

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As previously discussed, the SECURE 2.0 Act of 2022 ("SECURE 2.0") was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act...

United StatesEmployment and HR
Katrina McCann
Katrina McCann
Mary Grace Richardson
Mary Grace Richardson
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As previously discussed, the SECURE 2.0 Act of 2022 ("SECURE 2.0") was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here). After a closer read, several inadvertent errors were identified in the text of SECURE 2.0. In an open letter to the Secretary of the Treasury and the Commissioner of the IRS, dated May 23, 2023, Congress identified those errors and explained their intention to propose a correction bill.

On December 6, 2023, the House and Senate released a draft bipartisan SECURE 2.0 technical corrections bill. The proposed bill includes the following key corrections, along with additional minor fixes:

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