- Some provisions in SECURE Act 2.0 are optional, where plan sponsors can adopt the provision in their discretion. Many of those provisions are opportunities to make plans more attractive or beneficial to employees.
- One such optional provision is the ability to match student loan repayments, which should be attractive to employers who hire college graduates.
- The provision is effective for plan years after December 31, 2023.
The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022—the “enactment date”.
SECURE Act 2.0 has over 90 provisions, some major and some minor; some are mandatory and some are optional; and some are retroactively effective and some won’t be effective for years to come. This series of articles will discuss the provisions that are likely to be the most impactful.