Pending legislation would change numerous retirement policies. This column describes what might become law if the Senate bill known as the Retirement Security and Savings Act of 2021 (SECURE Act 2.0) reflects changes approved by the House of Representatives. Potential changes include mandatory autoenrollment, enhanced retirement plan start-up credits for small businesses, enhanced saver’s tax credit benefits, lower required minimum distribution penalties, and Roth options for simplified employer pensions (SEPs) and savings incentive match plans for employees of small employers (SIMPLEs).
Author: Thomas F. Commito, JD, LLM, CLU, ChFC, AEP (Distinghished), is director, sales concepts in Lincoln Financial Distributors’ Advanced Sales Group and is an associate editor of the Journal. He has 40 years’ experience in advanced sales, life insurance products, and life insurance marketing. Tom is an author of two books and numerous articles on tax and financial planning.
FSP members: Click here to access this article for free (member log-in required).
