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Secure Act 2.0

In the final days of 2022, Congress passed a new set of retirement rules designed to make it easier to contribute to retirement plans and access those funds earmarked for retirement.

This sweeping legislation was named SECURE 2.0 and contains dozens of significant provisions. We have attempted to highlight the most important points below.

1. RMD Age Increase

The RMD age increases from 72 to 73 in 2023.

Starting 2033, the RMD age will be 75.

Note: If you turned 72 in 2022 or earlier, this does not apply. You must turn 72 in 2023.

2. Auto Enrollment

Starting in 2025, employers will be required to auto-enroll employees into workplace plans, starting participants at 3% of their salary (and no higher than 10%).


  • Small businesses with less than 10 people
  • New businesses less than 3 years old
  • Churches and government

3. Reduced Penalty for Withdrawing Emergency Funds

Participants can withdraw up to $1,000 from their retirement plan per year without penalty in defined contribution plans starting in 2024. 

Note: Participants must repay the amount within three years and only one withdrawal per three-year repayment period is allowed if the first withdrawal has not been repaid.

4. Catch-Up Contributions Increase

Starting January 2025, those who are 60-63 years old can make catch-up contributions of up to $10,000 annually.

5. Missing Retirement Accounts Database

An online database will be created to assist employees and employers in finding their missing retirement accounts.

6. Small Businesses Tax Incentives

Small businesses will receive an increase in credits to help with administrative costs of setting up retirement plans.

Note: Small businesses are those that have up to 50 employees.

7. More Revisions Covered

In the sources linked below, there is more information covering:

  • Student loan debt payment programs
  • Small business tax incentives and credits
  • Financial incentives to save for retirement
  • Part-time workers increased access to 401(k) plans
  • 529 asset rollover option
  • Matching for Roth accounts

Remember that just because retirement rules have changed does not mean that adjusting your current strategy is appropriate. Also, retirement rules can change without notice, and there is no guarantee that the treatment of specific rules will remain the same.

Sources: Human Interest and Fidelity


Thomas Curran

Founder & Co-Chief Executive Officer