Bloomberg Tax
March 30, 2022, 5:00 AM

Legislation: SECURE Act 2.0 Passes House (IRC §401)

Legislation making various changes with respect to employer-sponsored retirement plans, including providing for the automatic enrollment of employees in certain plans and increasing the age at which participants are required to begin receiving mandatory distributions passed the House of Representatives Mar. 29 with a vote of 414 to 5. Required minimum distributions would gradually rise to age 75 depending on year such age is acheived. Catch-up contributions would be indexed with a $10,000 amount provided to persons aged 62, 63 and 64. Revenue raisers include elective deferrals generally limited to regular contribution limit and optional treatment of employer matching contributions ...

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