As 2024 draws to a close, plan sponsors should be aware of those provisions of the SECURE Act 2.0 that become effective in 2025. The SECURE 2.0 Act (SECURE 2.0) was enacted on December 29, 2022, and while some provisions were immediately effective, other provisions will become effective in later years. In 2024, the Treasury Department and the Internal Revenue Service (IRS) issued final regulations that address major changes to SECURE 2.0. In addition, various other agency guidance has been released in prior years after enactment clarifying requirements in certain provisions of SECURE 2.0. We anticipate further agency guidance will be issued or finalized to clarify many looming questions on other provisions of SECURE 2.0.
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