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ARTICLE · 13 JANUARY 2023

Secure 2.0 Highlights For Retirement Plan Sponsors

Ice Miller LLP
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For the second time in four years, a Congressional holiday miracle included one of the largest packages of tax law changes for retirement plans and individual retirement savings in history.

United StatesEmployment and HR
Gary Blachman
Gary Blachman
Audra J. Ferguson-Allen
Audra J. Ferguson-Allen
Kathleen Sheil Scheidt
Kathleen Sheil Scheidt
Tara Sciscoe
Tara Sciscoe
Christopher Sears
Christopher Sears
Lisa Harrison
Lisa Harrison
Lindsay Knowles
Lindsay Knowles
Shalina Schaefer
Shalina Schaefer
Robert Gauss
Robert Gauss
+1 more

For the second time in four years, a Congressional holiday miracle included one of the largest packages of tax law changes for retirement plans and individual retirement savings in history. On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023, a $1.7 trillion omnibus package that was passed on December 23 and includes the much anticipated "SECURE 2.0" retirement reform legislation. SECURE 2.0 Act of 2022, which builds on the original Setting Every Community Up for Retirement Enhancement Act of 2019 ("SECURE 1.0"), is the end product of three separate retirement bills that have been circulating in Congress for two years. While most of the provisions included in SECURE 2.0 have been under consideration in various forms, retirement plan sponsors have been awaiting final passage to understand the specific changes that will impact their employees and retirees.

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