SECURE 2.0, and How Its Changes May Impact Your Company’s Retirement Plans

Andrew E. Graw, Megan Monson, Jessica Kriegsfeld discuss the SECURE 2.0 Act and some of the retirement plan changes it will create in 2023 and beyond, such as raising the age for taking required minimum distributions from tax-qualified plans; mandating automatic enrollment; and increasing the catch-up contribution limit. The lawyers explain the public policy behind the changes— to increase retirement plan savings as well as the number of people participating in 401Ks, —and reiterate the importance of employers providing information that allows employees to make educated decisions about their retirement plan savings and deferral elections.

Episode Resource: 

• SECURE 2.0 Legislation: Impact on Qualified Plans (EBEN) | Lowenstein Sandler LLP

Speakers:

Andrew E. Graw, Partner and Chair, Employee Benefits & Executive Compensation
Megan Monson, Partner, Employee Benefits & Executive Compensation
Jessica Kriegsfeld, Associate, Employee Benefits & Executive Compensation