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SECURE Act 2.0: 10 Ways the Proposed Law Could Change Retirement Savings

May 28, 2021

From the Kiplinger website

Americans saw a number of changes to their retirement savings plans when the Setting Every Community Up for Retirement Enhancement Act, or the SECURE Act, was passed two years ago. Get ready for more.

The House Ways and Means Committee recently approved a second bill, the Securing a Strong Retirement Act of 2021, that would continue to tweak the rules for contributing to and withdrawing from retirement savings vehicles.  

Nicknamed the SECURE Act 2.0, the legislation was introduced by Reps. Richard Neal, D-Mass., and Kevin Brady, R-Texas, and aims to encourage Americans to save more for retirement, in part by making that process easier. It’s widely expected the bill will pass either this year or in 2022, given its strong bipartisan support and the nearly unanimous backing of the original SECURE Act. 

Here’s a look at 10 ways your retirement savings plan may change if the legislation becomes law. 

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