You may have read about the SECURE Act 2.0 that passed in late December as part of the Consolidated Appropriations Act.  This is the most extensive retirement plan legislation we have seen in years.  The main objectives include increase the availability of retirement plans, help people save more, streamline retirement plan rules, and help individuals preserve income in retirement.  The SECURE Act 2.0 has a plethora of provisions, some major and some minor; some mandatory and some optional; some retroactively effective and some won’t be effective for years to come. And some with unanswered questions.

Below are the provisions we believe to be the most impactful and it’s now time to begin planning.  However, there is a lot more guidance we need from the IRS and Department of Labor before we can fully give analysis of the nearly 90 provisions and how they may impact you as an individual investor on a day-to-day basis.  If you are a participant in an employer sponsored plan, guidance from record keepers and plan administrators is also required on how several provisions will be implemented.

Now it’s time to begin planning for provisions currently effective along with those slated for the coming years.  Our list of the most impactful provisions listed by effective date is as follows.