Secure Act Set to Improve Retirement for Americans

Jan 9, 2024 | Government Updates

Piggy bank under an umbrella

Congress passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) four years ago to help Americans in their retirement years.  In 2022, the SECURE 2.0 Retirement Savings Act  (“SECURE Act 2.0”) was enacted, which expanded the original SECURE Act and offered even more benefits. A number of the provisions of this expansion will begin in 2024, and subsequent years. One of them relaxes the rules for taking Minimum Distributions (“RMDs”). A summary of other benefits of the SECURE Act can be found here. In that more than a quarter of unretired Americans have not adequately saved for retirement, the Secure Act 2.0 is meant to ensure that aging Americans lead better, more secure lives.