SECURE 2.0: An Overview of the Provisions Impacting Employers

On December 29, 2022, SECURE 2.0 was signed into law by President Biden.

While most provisions of SECURE 2.0 will not take effect immediately, the legislation promises to alter the retirement landscape for millions of Americans and the businesses that employ them.

Some of the most impactful changes include:

• New plan design opportunities that include the matching of student loans and emergency savings.
• Changes to the Required Minimum Distribution (RMD) beginning dates.
• Adjustments to the Long-Term, Part-Time Employee Requirements.
• Long-awaited changes to the Top-Heavy Rules.
• Changes to Catch-Up Rules that will require Roth treatment for these types of deferrals.

Provisions included in SECURE 2.0 impact sponsors in a variety of ways, and it is important that retirement plan sponsors and small businesses understand how to take advantage of and stay in compliance with the new laws. Requirements for plan sponsors go into effect as early as January 1, 2023, and as late as 2027.

Tune into this webinar to hear benefits and retirement plan consultants provide an overview of the major SECURE 2.0 provisions that will impact retirement plans.

LAUNCH SESSION

GUEST SPEAKER

David Levine 
Principal, Co-Chair Plan Sponsor Practice, Groom Law Group

David Levine is co-chair of Groom Law Group’s employer-focused practice. He advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters.

David advises on the design and redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; alternative products and assets, including venture capital, private equity, and cryptocurrency, for IRA, HSAs, and 401(k) plan service providers; products and compliance for retirement and health service providers, and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability.

David was previously the Chair of the IRS Advisory Committee on Tax Exempt and Government Entities (2011-2013) and is currently a member of the Executive Committee of the Defined Contribution Institutional Investment Association and serves in a number of leadership roles in the American Bar Association Tax Section’s Employee Benefits Committee. David regularly speaks on plan design, fiduciary governance, and legislative issues and contributes a recurring column to NAPA Net — The Magazine. He is recognized in the Chambers USA guide for Employee Benefits & Executive Compensation.

Groom Law Group is a separate entity from OneDigital Investment Advisers, LLC.

Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Any tax advice contained herein is of a general nature. You should seek specific advice from your tax professional before pursuing any idea contemplated herein.