On March 29, 2022, in a bipartisan 414-5 vote the House passed legislation known as SECURE 2.0. The bill intends to build upon the original SECURE legislation passed in 2019. The bill aims at increasing retirement savings and expanding availability and participation in employer sponsored retirement plans. It’s likely that Congress will pass, and the President will approve some form of the legislation this year. However, since the Senate has yet to move on its version of the bill the final legislation is likely to change as the bills move through the legislative process.
Read more to view some of the key provisions of the House bill.