What you should know: SECURE 2.0 Act for Multiemployer Defined Contribution (DC) Plans
On December 29, 2022, the SECURE 2.0 Act was signed into law as part of the Consolidated Appropriations Act, 2023. The new law includes significant changes to retirement rules that primarily focus on expansion of retirement savings opportunities and access in Defined Contribution Plans (“DC Plans”).
To help plans better understand the impact of the Act, we created a high-level summary of the key Secure 2.0 provisions affecting Multiemployer DC plans along with our observations and conclusions.