SECURE 2.0 was enacted as part of the 2023 Consolidated Appropriations Act, which was signed into law on December 29, 2022. Now that the dust is beginning to
SECURE 2.0 was enacted as part of the 2023 Consolidated Appropriations Act, which was signed into law on December 29, 2022. Now that the dust is beginning to settle, the more than 90 provisions addressed by the new law must be implemented.
While most SECURE 2.0 provisions deal with defined contribution (DC) plans, there are some that apply to defined benefit (DB) plans as well, and there are even a few that only affect DB plans. All – whether directly or indirectly – can affect the overall retirement security of plan participants, regardless of which type of plan applies to them.
Some changes may require amendments to existing retirement plans and offerings. Some may require changes and upgrades to administrative systems and communications to plan participants before the effective date of the changes. All will underscore the need for accurate and readily available information.
In short – particularly when you combine all of this with the need for technical corrections to dozens of provisions of the new law — the overall outcome can pose serious administrative challenges.
What to do? Register now for NCTR’s upcoming members-only webinar, Thursday, March 23 at 3 PM/ET, where you can listen to Leigh Snell, NCTR’s Director of Federal Relations, and experts from Groom Law, PBI Research Services, and NCTR member retirement system staff discuss the legal requirements, the data needs, and the implementation challenges that SECURE 2.0 presents.
And don’t forget: you can submit specific questions you would like to hear Leigh ask the experts. Mark your calendars now, and don’t forget to register!
(Thursday) 3:00 pm - 4:00 pm