SECURE Act 2.0 and Your Retirement

Christian talk radio with Rob West

The SECURE Act 2.0, signed into law a few months ago, is a piece of legislation that makes several improvements to make retirement saving easier. It increases the age for taking required minimum distributions from 73 to 75, reduces the penalty for late or missed RMDs, allows employers to match contributions on qualified student loan payments to retirement accounts, and increases catch-up contributions for those aged 60 to 63. The new legislation also allows employers to add a Roth “emergency fund” to their plans for most employees, giving them penalty-free access to those funds when needed. These changes in the rules for retirement savings are beneficial for both younger and older investors, allowing them to save more and make wiser investments.