Secure Act 2.0

Common Provisions

– Matching contributions on student loan payments
– Domestic abuse withdrawals
– Lower eligibility requirements for long-term part-time employees to two consecutive years of service with 500 hours.
– Defined contribution plans are not required to provide notices to unenrolled participants.
– Matching contributions may be in the form of a Roth contribution.
– Repayment period for qualified birth or adoption distributions limited to three years.
– Plans may provide small incentives to participate.


Higher catch-up contributions after age 60
  • Increase catch-up to $10,000 (indexed).
  • Available age 62 – 64 under SSRA
  • Available age 60 – 63 under EARN
Required minimum distribution (RMD) changes
  • Increase RMD beginning age to 75.
    • Age 73 in in 2023, age 74 in 2030 and age 75 in 2033 under SSRA
    • Age 75 in 2032 under EARN
  • Reduce penalty for failure to take a RMD to 25% (currently 50%).
  • EARN would exempt all Roth sources from RMD requirement.
Require catch-up contributions be in the form of a Roth contribution
  • Effective in 2023 under SSRA, effective 2024 under EARN.
  • Under EARN, Roth requirement would only apply if income exceed a certain level.
Increase start-up credit for small employers (100 or fewer employees)
  • Currently a three-year credit equal to lesser of 50% of start-up costs or $5,000
  • EARN would increase to 75% for employers with 25 or fewer employees.
  • SSRA would increase to 100% for employers with 50 or fewer employees.
Qualified longevity annuity contract (QLAC) reforms
  • Currently premiums limited to lesser of 25% of account balance or $145,000
  • Both SSRA and EARN would repeal the 25% limit.
  • EARN would increase the $145,000 to $200,000.
Increase cash-out limits (currently $5,000)
  • EARN would increase to $6,000.
  • SSRA and RISE & SHINE would increase to $7,000.
Saver’s Credit Reforms
  • Under SSRA, credit would be equal to 50% of first $2,000 in retirement contributions for joint filers earning $48,000 or less(phases out over next $35,000 of income).
  • Under EARN, credit would be equal to 50% of first $2,000 in retirement contributions for joint filers earning $41,000 or less(phases out over next $30,000 of income).
  • EARN would make the saver’s credit refundable.
    • Must be paid to a plan or IRA. Plans would not be required to accept.
    • Refund is not taxable and is not include for discrimination testing or limits on contributions.
Retirement Savings Lost and Found
  • Both SSRA and EARN create a registry to assist workers in finding lost retirement savings.
  • For unresponsive participants, EARN would require transferring balances of $1,000 or less to a lost-and-found account held at the Treasury.

Important Dates

March 29, 2022

Securing a Strong Retirement Act (SSRA) passed the House

June 14, 2022

The Senate Health Education Labor and Pension committee marked up the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE & SHINE) Act

June 22, 2022

The Senate Finance Committee marked up the Enhancing American Retirement Now (EARN) Act

Secure 2.0 Act

View a section-by-section summary of the H.R. 2954 Securing A Strong Retirement Act from the The Committee on Ways and Means.