Are You Insecure about SECURE 2.0?

There are a LOT of retirement provisions in the SECURE 2.0 Act of 2022 – this week we’d like to know which one(s) you’re most excited about – and which you’d like go deeper on at the NAPA 401(k) Summit!

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* 1. Among these key provisions, which one(s) are you most excited about?

  Gives me heartburn Could take it or leave it SUPER excited about this one!
The establishment of a new “Starter K" to allow employers that do not currently sponsor a retirement plan to offer a starter 401(k) plan (or safe harbor 403(b) plan);
A 100% tax credit for new plans;
New plans (12/29/22) must have automatic enrollment.
Long-term part-time worker eligibility reduced to 2 years from 3.
An enhanced Saver’s match that will modify the existing Saver’s Credit by changing it from a credit paid in cash as part of a tax refund to a government matching contribution that must be deposited into a taxpayer’s IRA or retirement plan;
A new “pension-linked” emergency savings provision;
A new student-loan matching program to treat student loan payments as elective deferrals for purposes of matching contributions;
Higher catch-up limits at age 60, 61, 62 and 63;
Increasing the required minimum distribution (RMD) age;
Expansion of the current qualified longevity annuity contract (QLAC) limits;
Provisions for auto-portability;
Establishment of a Retirement Savings Lost and Found;
Expansion of the Employee Plans Compliance Resolution System (EPCRS); and
Reforms to the family attribution rules.
Permanent rules with regard to declaring retirement distribution relief for national disasters.
403(b)s allowed to invest in CITs.
403(b)s can participate in MEPs.
Group of plans audits applies only to large plans.
Roth permitted for SIMPLE and SEP plans.
Mandatory Roth catch-up for HCEs.
Emergency distribution access to funds (up to $1,000), with the OPTION to repay the distribution within 3 years.
Long-term 529 holdings can be rolled into a Roth IRA.
Increase in distribution cash out from $5,000 to $7,000.

Question Title

* 2. Among these key provisions, which one(s) would you like us to focus on at the NAPA 401(k) Summit (April 2-4, 2023 - San Diego)?

  Not really my thing Of interest, but a full-blown session not needed SUPER excited about this one!  Want/need to know more! No idea/opinion
The establishment of a new “Starter K" to allow employers that do not currently sponsor a retirement plan to offer a starter 401(k) plan (or safe harbor 403(b) plan);
A 100% tax credit for new plans;
New plans (12/29/22) must have automatic enrollment.
Long-term part-time worker eligibility reduced to 2 years from 3.
An enhanced Saver’s match that will modify the existing Saver’s Credit by changing it from a credit paid in cash as part of a tax refund to a government matching contribution that must be deposited into a taxpayer’s IRA or retirement plan;
A new “pension-linked” emergency savings provision;
A new student-loan matching program to treat student loan payments as elective deferrals for purposes of matching contributions;
Higher catch-up limits at age 60, 61, 62 and 63;
Increasing the required minimum distribution (RMD) age;
Expansion of the current qualified longevity annuity contract (QLAC) limits;
Provisions for auto-portability;
Establishment of a Retirement Savings Lost and Found;
Expansion of the Employee Plans Compliance Resolution System (EPCRS); and
Reforms to the family attribution rules.
Permanent rules with regard to declaring retirement distribution relief for national disasters.
403(b)s allowed to invest in CITs.
403(b)s can participate in MEPs.
Group of plans audits applies only to large plans.
Roth permitted for SIMPLE and SEP plans.
Mandatory Roth catch-up for HCEs.
Emergency distribution access to funds (up to $1,000), with the OPTION to repay the distribution within 3 years.
Long-term 529 holdings can be rolled into a Roth IRA.
Increase in distribution cash out from $5,000 to $7,000.

Question Title

* 3. Any other comments on SECURE 2.0, provisions in SECURE 2.0, the importance of provisions in SECURE 2.0, questions about the implementation of these provisions in SECURE 2.0, or life in general?

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* 4. Suggestions for future survey questions?

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* 5. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

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