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Happy New Year! Are You Ready for New SECURE 2.0 Act Rules to Take Effect?

January 02, 2024 (3 min read)

The SECURE 2.0 Act (Pub. L. No. 117-328, Div. T), which was included within the Consolidated Appropriations Act, 2023, has provisions with effective dates from 2023 to 2033. For 2024, some rules are mandatory and some are optional. Learn more by reading this timeline of SECURE 2.0 changes.

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Related Content

  • SECURE 2.0 Act Impact on Retirement Plan Compliance and Administration
    Reference the many provisions of SECURE 2.0. One of the provisions effective in 2024 is elimination of required minimum distributions from designated Roth 401(k) accounts aligning the treatment of Roth 401(k)s with that which already applies for Roth IRAs. Another is the use of starter 401(k)s/403(b)s that allow elective deferrals only, with catch-ups.
  • SECURE 2.0 Act Tracker
    Review SECURE 2.0 by referencing this tracker that records SECURE 2.0’s significant changes to the Internal Revenue Code and ERISA for tax-favored retirement plans, their effective dates, and related guidance. 

Practical Guidance Updates 
Featuring the latest updates from your Practical Guidance account.    

  • Employee Benefits & Executive Compensation Key Legal Developments Tracker
    Stay informed on new developments.
    • Office of the Chief Accountant (OCA), DOL, and EBSA publish an assessment of the quality of audit work performed by independent qualified public accountants focused on their financial statement audits of ERISA employee benefit plans for the 2020 filing year. Audit Quality Study.
    • Retirement Plans. IRS provides guidance in the form of Q&As on certain provisions of the SECURE 2.0 Act. Notice 2024-2.
    • Health and Welfare Plans. HHS, EBSA, and IRS issue final regulations related to the fees established by the No Surprises Act for the Federal independent dispute resolution (IDR) process, as established by the Consolidated Appropriations Act, 2021. The final regulations amend existing regulations to provide that the administrative fee charged to participate in the federal IDR process, and the ranges for certified IDR entity fees for single and batched determinations, will be set by the agencies through notice and comment rulemaking. 88 Fed. Reg. ___ (unpublished version) (scheduled to be published 12/21/23).


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