The IRS has issued Notice 2023-62 to address stakeholder concerns regarding implementation of Section 603 of the SECURE 2.0 Act.
The Department of Labor’s Employee Benefits Security Administration has issued a request for information to solicit public input on a number of provisions of SECURE 2.0 that impact ERISA’s reporting and disclosure requirements.
The Department of Labor has released a paper to initiate consultation with the ERISA Advisory Council as a first step in fulfilling the requirements of Section 321 of the SECURE 2.0 Act titled “Review of Pension Risk Transfer Interpretive Bulletin.”
The SECURE 2.0 Act of 2022, provisions affecting the Employee Plans Compliance Resolution System support the IRS trend toward shifting certain types of retirement account corrections to the Self Correction Program.
The IRS has issued Notice 2023-54 to provide transition relief for required minimum distributions in connection with the change in required beginning date to age 73 under SECURE 2.0, and guidance for certain specified RMDs for 2023.
Pension-Linked Emergency Savings Accounts
The IRS has issued Notice 2023-43 to address questions and provide interim guidance related to Section 305 of SECURE 2.0.
Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department.
The SECURE 2.0 Act provides more ways for individuals to access their retirement savings and creates new exceptions to the 10% early distribution penalty tax.
This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0