Secure Act, the sequel to the 2019 original, or Secure Act 2.0 as it is better known, has been signed!  This legislation has created a significant amount of changes to the retirement planning landscape (92 new or modified provisions!).  The changes affect individuals and businesses, so everyone should be aware of what changed.  Most changes are effective for future years so there is time to get comfortable with the changes.  There are also IRS and DOL clarifications that will be needed, and will likely take time to come out.  Below is a summary of the significant changes and the effective date of the change.  As always, reach out to us with questions!

Individual Provisions
Business Provisions

Other provisions effect items such as distributions for adoption expenses, special needs trusts, and expanded tax credits for new plans.

If you have any questions about how the SECURE Act 2.0 may affect you, please reach out to us at JAK+Co.