Secure Act 2.0 adds incentives for businesses to offer retirement plans, employees to use them

Included in Congress’ $1.7 trillion omnibus package passed before Christmas was the Securing a Strong Retirement Act, a bill that enacts a number of changes to the federal retirement system.

The bill, also known as the Secure Act 2.0, builds upon a similar set of laws that went into effect in December 2019. The most recent version includes changes across many aspects of retirement savings, such as required minimum distributions, catch-up contributions, automatic enrollment, emergency savings and…