03.29.22

House Approves SECURE 2.0 With Strong Bipartisan Vote

by: Mark Schoeff, Jr.

The U.S. House of Representatives on Tuesday approved with strong bipartisan support the Securing a Strong Retirement Act of 2021, or SECURE 2.0, sending it to the Senate, where several retirement-savings bills are under consideration or about to be introduced. SECURE 2.0 would raise the minimum age for required distributions from retirement plans to 75 from 72, expand automatic enrollment in 401(k) and 403 (b) plans and provide incentives for small businesses to establish retirement plans, according to a summary. The measure contains dozens of provisions that were championed by Democrats and Republicans and garnered widespread support from interest groups, as well as from financial firms.

Read the full article on InvestmentNews