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SECURE Act 2.0 is an expansion of the changes enacted earlier by the first SECURE Act of 2019, also referred to as the Setting Every Community Up for Retirement Act. The legislation name is fitting as it addresses how individuals can save for retirement throughout different life stages and situations. Though there are many paths to retirement, it’s critical to be financially prepared, especially as people are living longer. 

The proposed provisions to the SECURE Act impact people of all ages. For younger workers, the intent is to help them start saving earlier by making employer matches available for those who are also paying off student loans, as well as facilitating retirement savings through automatic enrollment. Those nearing retirement could have more time to save, thanks to raised catch-up contribution limits and delayed required minimum distributions (RMD). 

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