SECURE Act 2.0 is now law. With dozens of new provisions, many Americans will get to invest longer for retirement, put away more money, and take advantage of the biggest changes in years for their employer-sponsored 401(k) plans.
SECURE Act 2.0 moves the required minimum distributions (RMDs) age to 73 in ’23—and to age 75 in ’33
RMD late withdrawal penalties set to drop
Catch-up retirement contribution limits will increase 50% for some late-career workers
Big changes ahead for Roth retirement investments
Whether you’re a few years from retirement or decades away, dozens of new rules in the long-awaited SECURE Act 2.0 of 2022 could have a significant impact on the way you plan, invest, and withdraw your nest egg.
Signed into law December 30, 2022 by President Biden as part of an omnibus spending bill, ‘SECURE 2.0’—the latest update to 2019’s Setting Every Community Up for Retirement Enhancement (SECURE) Act—could have the greatest impact for workers enrolled in qualified employer retirement plans.
Here are some major provisions of SECURE Act 2.0 and the year they become effective. Please note that the IRS may issue regulations that could reshape these rules over time. When that happens, we’ll update the following.
To help you learn more about SECURE Act 2.0, The Ticker Tape will be updating current articles to reflect the latest changes in this law.
TD Ameritrade does not provide tax advice. We suggest you consult with a qualified tax-planning professional with regard to your personal circumstances.
Do Not Sell or Share My Personal Information
Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.
Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.
Market volatility, volume, and system availability may delay account access and trade executions.
Past performance of a security or strategy does not guarantee future results or success.
Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.
Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
TD Ameritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2023 Charles Schwab & Co. Inc. All rights reserved.