On Friday, December 20, 2019, President Trump signed into law
the Setting Every Community Up for Retirement Act of 2019
(the "SECURE Act") as part of a spending bill to fund the
government through September 30, 2020 (H.R. 1865, the "Further
Consolidated Appropriations Act of 2020"). The SECURE Act,
which is undoubtedly the most significant pension reform in over 13
years, includes almost 30 provisions aimed at increasing coverage
of American workers in employer-sponsored plans, modifying
distribution rules, easing administrative requirements for safe
harbor 401(k) plans, and more. Most notably, many of the new
law's provisions became effective on January 1, 2020.
Below is a summary of the SECURE Act's key provisions.
