The SECURE 2.0 Act of 2022, which is included as part of recently-passed Consolidated Appropriations Act, 2023 makes dramatic changes impacting the retirement plan area and builds upon the 2020 SECURE 1.0 ACT which was effective 1-1-2020. This comprehensive workshop will focus on the Act’s primary purpose of expanding retirement coverage, while also offering significant incentives for increasing individual retirement savings for both IRAs and qualified plans. Most of the changes will take effect immediately in January 2023, although there are a few retroactive provisions in this 150-page bill. It is imperative that you are prepared to advise clients on key planning steps, while businesses will face implementation issues and decisions.

Click here to view a detailed table of contents.

Topics & Learning Objectives Include:

• New age 73 and 75 required beginning dates for RMDs
• Decreased penalty for missed RMDs
• Relaxed recovery rules for over-funding plan contributions
• Relief for IRAs engaging in “prohibited transactions”
• Inflation adjustments for $1,000 age 50 or over catch-up contributions
• Increased catch-up contribution for taxpayers at age 60, 61, 62, and 63
• Automatic employee enrollment for new qualified plans
• Tax credit increased for retirement plan start-up costs
• Increased $2,000 saver’s match
• Ability for small businesses to join “pooled employer plans”
• Employer matching offsets for employee student loan repayments
• Employee incentives for retirement plan contributions
• New annual $1,000 “emergency withdrawal” exception
• Faster plan qualification for part-time employees
• Incentives for for employers with no retirement plans
• Clarification of “substantially equal periodic payment rule”
• New Retirement Planning Strategies
• And Much More!

Prof. John Connors is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.