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No. 4: SECURE 2.0 Increases Catch-Up Contributions Starting January 1, 2025, individuals ages 60 to 63 can make catch-up contributions up to $10,000 a year to a workplace plan.
Richard Neal, the U.S. representative for Massachusetts's 1st congressional district and chairman of the House Ways and Means Committee, introduced the SECURE Act as H.R. 1994 on March 29, 2019. [5] The bipartisan bill was co-introduced by Ranking Member Kevin Brady (R-TX) as well as Reps. Ron Kind (D-WI) and Mike Kelly (R-PA).
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 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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At the end of March, the U.S. House of Representatives overwhelmingly approved the SECURE Act 2.0 with bipartisan support, enabling the bill to be revised in the Senate before passing into law. The...