Congress passed the original Setting Every Community Up for Retirement Enhancement (SECURE) Act in 2019. The House of Representatives passed a bill that builds on that law’s improvements, the Securing a Strong Retirement Act (SSRA), in early 2022. The Senate passed a different bill, the Enhancing American Retirement Now (EARN) Act.
Congress combined elements of the SSRA and the EARN Act to create the SECURE 2.0 Act, found in Division T of the CAA with many provisions.
Notify your financial advisor if you believe any of the early withdraw penalty relief applies to you so it can be correctly reported on your 2022 tax document 1099-R.
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