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Under the SECURE Act of 2019, non-spouse beneficiaries were required to deplete inherited retirement accounts within 10 years of the account holder’s death. SECURE 2.0 still has this rule but ...
On December 20, 2022, “Division T - Secure 2.0 Act of 2022” was added to H.R. 2617 (Consolidated Appropriations Act, 2023), incorporating H.R. 2954 into the omnibus bill. The omnibus bill, including Division T, passed the Senate On December 22nd, passed the House on December 23rd, and signed into law by President Joe Biden on December 29, 2022.
The SECURE Act received support from a variety of special interest and consumer advocacy groups, including the Society for Human Resource Management [18] and the AARP. [19] The CEO of AARP, Jo Ann Jenkins, praised the bill, citing provisions that she claimed would reduce poverty risk among retirees and improve the nation's financial security.
The House of Representatives has passed Bill H.R. 2954, the Securing a Strong Retirement Act, moving it one step closer to becoming a law, per CNBC. The bill, commonly known as the SECURE Act 2.0,...
The SECURE 2.0 Act (aka, the Securing a Strong Retirement Act 2.0) puts in motion provisions to make retirement savings more straightforward and accessible to a wider range of people.
The retirement savings legislation, also known as SECURE Act 2.0, expands on the original SECURE Act and includes provisions to boost the required minimum distribution (RMD) age from 72 to 75 over ...
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The SECURE 2.0 Act Summary The SECURE 2.0 Act, passed as part of the Biden’s $1.7 trillion omnibus spending bill in December, aims to make a secure retirement more achievable for Americans.