SECURE 2.0 Includes Several Changes Intended to Encourage the Use of Retirement Annuities

May 1, 2023 by Joshua Waldbeser

SECURE 2.0, which was included as part of the Consolidated Appropriations Act of 2023, was signed into law in late December 2022. The statute contains 92 substantive sections making reforms to a broad array of retirement-related provisions in ERISA, the Internal Revenue Code (the Code) and certain other laws. Of these 92 sections, four make changes to various aspects of the required minimum distribution (RMD) rules set forth under the Code that apply to annuities in various situations. Below is a brief summary of these new provisions.

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Originally Posted at JD Supra on April 28, 2023 by Joshua Waldbeser.