Legislative News & Updates


Review the benefits of SECURE 2.0.


SECURE 2.0 Key Provisions: What Plan Sponsors Need to Know Learn more about the key SECURE 2.0 provisions that may impact your company’s retirement plan.
Tax Credits Available for Small Employers Learn about the tax credits available for small employers that sponsor a retirement plan.
New Ways to Take Penalty-Free Distributions Review the various ways the SECURE Act enhances individuals’ accessibility to their retirement savings.
Featured News Retirement Spotlight: IRS Issues Interim Guidance on Plan Corrections under SECURE 2.0 Act

Plan Features

Learn more about the various plan options and design benefits available through SECURE 2.0.

Employer Roth Contributions
  • Employers choose Roth options, simplifying tax planning
  • Key clarifications streamline implementation but may add complexities
Replacing SIMPLE Plan
  • Allows midyear termination of Simple IRA if adopting safe harbor 401(k)
  • Employers set termination and effective dates
  • Employees notified 30 days prior to termination; contributions due by then
Financial Incentives for Contributions
  • Allows employers to offer small incentives for employee participation in retirement plans
  • Incentives can only be provided to employees that do not have a deferral election in place
Expanding Automatic Enrollment
  • Provides clarification related to mergers and spin-offs
  • Defines establishment timing for qualified cash or deferred arrangements
Employer Tax Credits
  • Clarifies the eligibility requirements for plan start-up credits
  • Outlines increased start-up credits for eligible employers
Corrections for Elective Deferral Failures
  • Safe harbor correction for deferral failures
  • Applies post-2023 implementation errors
Terminal Illness
  • Terminal illness diagnosis may allow hardship distribution of deferrals
  • Physician certification required
Looking for additional employer resources?

All of us at Ascensus are delighted by the passage of SECURE 2.0 and the bipartisan support that led to this important legislation. Thanks to the collaboration of our elected officials, savers across the U.S. will have additional opportunities to create more certain financial futures and greater peace of mind.

We look forward to working with clients, partners, advisors, and savers to implement the provisions of SECURE 2.0 across the retirement, 529, and ABLE plans we serve.

David Musto
President and CEO, Ascensus