In late December 2022, President Joe Biden signed the Consolidated Appropriations Act (CAA 2023) into law which could affect retirement planning for consumers through the addition of the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0.

The new provisions enable employers, the federal government, and the retirement plan industry to help Americans save more for retirement. Some of the highlights of SECURE Act 2.0 include increased ages for required minimum distributions (RMDs), making personal/family emergencies exempt from 10% penalty for an emergency withdrawal, increased catch-up contributions for people ages 60-63, Roth enhancements, and saver’s credit to be payable as a match.

You can read the SECURE 2.0 Act of 2022 by clicking here to download a PDF version of the document.

AIP Marketing Alliance wanted to pass along a couple of useful links as well that break down the SECURE Act 2.0 in a shorter version from some reputable news sources and contracted carriers.

• Forbes: 5 RMD Changes Looming With Passage Of SECURE 2.0 Act
• Global Atlantic: How Secure Act 2.0 creates more retirement
• John Hancock: SECURE Act 2.0 offers good news for retirement savers
• Principal: What is the SECURE 2.0 Act and how does it affect your money?
• Think Advisor: Secure 2.0 Act: A Timeline

As more information becomes available, AIPMA will update this page accordingly. If you would like some carrier-approved SECURE Act 2.0 materials, please contact AIPMA’s Marketing team at (800) 783-5206 or marketing@aipma.com.

Note: AIP Marketing Alliance (AIPMA) periodically may provide third-party material and/or provide you with links to outside articles and websites. Please note that the information and opinions included are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by the issuing company. Such material is being provided for informational purposes only and is not a solicitation for the purchase of any product, nor should such material be construed as advice designed to meet the needs of your clients. Always ensure you follow the current policies on the use of any advertising, third-party materials and/or social media as required by your broker/dealer and/or the carriers that you represent. AIPMA will not accept any legal liability resulting from any use of 3rd party material(s).