KPMG report: Summary and observations of tax provisions under SECURE Act 2.0
KPMG report on the more significant and broadly applicable changes
KPMG report on the more significant and broadly applicable changes
The “Consolidated Appropriations Act of 2023” (H.R. 2617) was signed into law on December 29, 2022, and includes several provisions building upon the “SECURE Act” enacted in 2019. These provisions, collectively referred to as SECURE Act 2.0 (the Act), bring in a long list of changes and many new benefits and features related to qualified retirement plans and individual retirement arrangements (IRAs). Although most of the changes are narrow in scope and address particular issues raised by the previously existing rules, there are more than 80 provisions addressing all types of qualified retirement plans including section 401(k) arrangements, section 403(b) plans, section 457(b) plans, and IRAs.
Read a January 2023 report [PDF 603 KB] prepared by KPMG LLP that summarizes and includes observations with respect to the more significant and broadly applicable changes, particularly as to private employers, and also lists other provisions of SECURE Act 2.0 that address more specific issues.
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