Tag: Secure Act 2.0

Tax Break Vanishing for Some Retirement Savers

July 17, 2023
401kBusiness & Marketspersonal financePolicies & ImpactsRoth catch-upSecure Act 2.0USUS News
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A popular tax break in the form of being able to make so-called “catch-up” contributions to 401(k) retirement savings plans is set to vanish for many higher-earning Americans at the end of this year. Catch-up contributions refer to a provision in 401(k) plans that allows individuals aged 50 and above to contribute extra money to…

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Retirement Enhancement Package Moves Out of Committee With Bipartisan Support

May 5, 2021
congressPoliticsRep. Kevin BradyRep. Richard NealSecure Act 2.0USUS News
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The House Ways and Means Committee approved a bipartisan package aimed at strengthening Americans’ retirement security. The package, the Secure Act of 2021, also called Secure 2.0, was co-sponsored by Ways and Means Chairman Richard Neal (D-Mass.) and ranking member Kevin Brady (R-Texas) and includes dozens of provisions that build on a retirement law from 2019. “The retirement crisis…

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