The SECURE Act 2.0
Author: Allison McLeod
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
After a false start in 2022 when it failed to pass through Congress, the Secure Act 2.0 was passed in a flurry of year-end legislation. This two hour course will cover the important changes in savings and distributions of retirement plans that impact individuals. Employers will also need to consider how Secure Act 2.0 will affect the administration of existing plans or the creation of new ones. This course will provide a concise look at these hot topics.
Publication Date: August 2024
Designed For
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses and individuals that have these tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.
Topics Covered
- Implications for individuals
- Changes to the Saver’s Credit
- Changing the required minimum distribution rules for Roth 401(k)s
- Changes to required beginning dates for required minimum distributions of retirement plans
- Penalty-Free Withdrawals for Certain Emergency Expenses
- Special provisions for firefighters and military personnel spouses
- Increases in catch-up contributions
- Impact on 529 plans
- Opportunities for student loan payment matching
- Implications for Employers
- Starter § 401(k) plans for small employers
- Requiring automatic 401(k) enrollment
- Improving worker access to emergency savings
- Increasing part-time workers’ access to retirement accounts
- Statute of Limitations on excise taxes imposed on overcontributions to retirement plans
- Multiple employer §403(b) plans
- Automatic portability provisions
- Other changes in the administration of company retirement plans
Learning Objectives
- Identify the newest tax developments contained in the Secure Act 2.0
- Identify the new provisions modifying the administration of employer retirement plans
- Identify the expanded contribution and catch-up limits for individuals
- Identify the new required beginning dates for distributions
- Identify the newest developments on required minimum distribution dates
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
