SECURE Act 2.0 – New law makes saving for retirement easier
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Description
Abstract: The SECURE 2.0 Act of 2022 is making it easier for many people to save for retirement in a tax-advantaged manner. This article reviews the law’s provisions, including those related to required minimum distributions (RMDs) from IRAs, catch-up and matching contributions to 401(k) plans, and Section 529 plans. A sidebar explains the tax breaks available by making qualified charitable distributions. As an extra bonus, these distributions count toward any RMDs for the year.
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