SECURE 2.0 Technical Corrections Draft Released

The Senate and House committees of jurisdiction have released a draft containing technical corrections and other clarifications to SECURE 2.0. The following provisions are addressed in the draft.

• Section 101: Expanding automatic enrollment in retirement plans
• Section 102: Modification of credit for small employer pension plan startup costs
• Section 110: Treatment of student loan payments as elective deferrals for purposes of matching contributions
• Section 121: Starter 401(k) plans for employers with no retirement plan
• Section 125: Improving coverage for part-time workers
• Section 126: Special rules for certain distributions from qualified tuition programs to Roth IRAs
• Section 303: Retirement Savings Lost and Found
• Section 601: SIMPLE and SEP Roth IRAs
• Section 603: Elective deferrals generally limited to regular contribution limit
• Section 606: Enhancing retiree health benefits in pension plans

Lawmakers are seeking comments on the draft.