In an effort to increase the use of 529 plans for college savings, one such change will allow some excess 529 plan money to be rolled over to ROTH IRAs.
SECURE 2.0 contains an important provision regarding the eligibility of part-time employees to participate in an employer’s 401k plan or ERISA-governed 403b plan. The fundamental principle behind SECURE 2.0 is to make it easier for Americans to save for retirement.
On December 29, 2022, President Biden signed the SECURE 2.0 Act of 2022 (“SECURE 2.0”). The new act is being called SECURE 2.0 based on the name of its thematic predecessor, the Setting.