Details on the SECURE 2.0 Mandatory Starter 401k
I have read Section 121 of the SECURE 2.0 Act. I did not really find any specifics and details. Any suggestions about where to find information? My state has not set up their version. So, what are federal rules and regulations. Any help would be appreciated.
Don
Permalink Submitted by Alan - IRA critic on Sat, 2023-10-21 22:12
The IRS has done little to publish regulations on most of the 91 Secure 2.0 provisions, so many of them cannot be implemented according to the Secure 2.0 effective dates. And this provision is optional, so the IRS guidance will be delayed until after the mandatory provisions are addressed. Conflicts with state requirements might complicate this, but simplicity is not high on Congress’ priority list. You will have to monitor the financial press regarding Secure 2.0 guidance from the IRS on this provision.