SECURE 2.0: What Plan Sponsors Need to Address Now

SECURE 2.0, enacted in December 2022, introduced over 90 provisions affecting qualified retirement plans. Several of these provisions carry mandatory compliance deadlines that are already in effect — and plan sponsors who have not reviewed their plan documents and administrative procedures against the new requirements face material compliance risk.

Among the provisions requiring immediate attention: updated required minimum distribution ages, expanded catch-up contribution rules (including the new super catch-up for participants ages 60–63), changes to automatic enrollment and escalation requirements for new plans, and modifications to the rules governing Roth contributions and in-plan conversions.

Regency works with plan sponsors to conduct a comprehensive SECURE 2.0 review — identifying which provisions apply to the plan, assessing current compliance posture, coordinating plan document amendments with TPA and recordkeeper, and implementing any required administrative or participant communication changes. Sponsors who have not yet completed this review should act promptly.