Like the previous retirement bill passed in 2019, SECURE (Setting Every Community Up For Retirement Enhancement), Secure 2.0 is based on a large number of relatively small changes to retirement statutes. Although it has some novel policies, such as allowing employers to use student loan payments as a basis for matching retirement contributions, most of this bill makes adjustments to existing laws and policies.
Among these changes, the Secure 2.0 law will update how savers and retirees can access their money. With new rules on both required minimum distributions (RMDs) and early withdrawals, this law gives investors significantly more control over how and when they access their retirement accounts.