Finally signed into law, the SECURE 2.0 Act of 2022 builds on the improvements made by the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019 with more than 90 changes affecting qualified retirement plans, IRAs, SIMPLEs, SEPs, ABLEs and 529 plans.
SECURE 2.0 includes most of the major elements from the three separate retirement bills it consolidated. Attached is a two pager that summarizes the key provisions related to qualified plans and SIMPLEs in addition to highlights that affect investors, business owners and financial planning including:
- Relaxed RMD rules
- Tax & penalty free 529 rollovers to Roth IRA’s
- Expansion of startup tax credits
Disclaimer: HoyleCohen is a fiduciary acting on behalf of our clients. We are a fee-based investment advisor and do not receive commissions for any investment strategies or products that may be discussed. This information is intended for informational purposes only. No decisions regarding investment strategies should be made based solely on this information and it should not be interpreted as investment advice. Any investment decisions should be discussed with your Advisor. Finally, all investments carry the risk of loss, including the permanent loss of principal and past performance is not a guarantee of future results.
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