The SECURE 2.0 Act of 2022 (“SECURE 2.0” or “the Act”) was signed into law on December 29, 2022 as part of the Consolidated Appropriations Act of 2023. SECURE 2.0 builds on the Setting Every Community Up for Retirement Act of 2019 (the “SECURE Act”) and aims to modernize the retirement system, encourage additional retirement savings, and ease administrative requirements. Summarized below are the Act’s key provisions that apply to retirement plans (note that not all provisions of the Act are addressed). The first section of this bulletin covers changes that impact plan design, and the second covers changes that are more administrative in nature.
On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020.Pub. L. No. 116-94, 133 Stat. 2,534 (2019). In citations, Division O of this law is hereinafter cited as the “SECURE Act.” [...]
On June 5, 2014, the Washington State Attorney General, Office of the Insurance Commissioner, and Human Rights Commission (the "Agencies") jointly issued an announcement clarifying that under Washington State law (which recognizes same-sex marriages and prohibits [...]