The U.S. House passed the SECURE Act 2.0, which includes provisions to boost retirement savings. In this episode, Nathaniel and Tim discussed the bill, and expressed their mixed feelings about some of the provisions: 1) Increase catch-up contributions; 2) Increase RMD age from 72 to 75 by 2033; 3) allow employers to place their match into the Roth portion of your 401(k) (Nathaniel is beyond excited about this one!); 4) allow employers to make matching contributions if you choose to pay your student loans over retirement contributions; 5) expand saver’s credit; 6) auto-enrollment into employer-sponsored plans; 7) annuities can be offered in employer-sponsored plans (oh no… this is asinine…). Overall, other than the annuity one, we are onboard with most of the legislation. It will be interesting to see how the government executes if it becomes law.
