Navigating the SECURE 2.0 Act
The new law creates many opportunities for employers and employees to increase retirement savings and financial security. Read on to learn more.
Preparing employers for the Age 60–63 Catch-up Contribution provision
Starting in 2025, participants who are between the ages of 60–63 by the end of the calendar year may be able to use a SECURE 2.0 optional age-based catch-up contribution feature.
SECURE 2.0 Act of 2022
Employer Resources
Articles and updates
Starting in 2025, participants between the ages of 60–63, by the end of the calendar year, may be able to use a SECURE 2.0 optional age-based catch-up contribution feature. What do employers need to do to prepare? Updated February 2026
IRS Notice 2024-2 provides guidance with respect to certain provisions of the SECURE 2.0 Act of 2022.
SECURE 2.0 redefined when a participant in a governmental 457(b) plan may enter into an agreement to participate in that plan. The change is optional, but has the benefit of both easing the administrative burden of governmental employers and enabling participants to begin saving for retirement earlier. Updated April 2026
On Sept. 16, 2025, the IRS issued final regulations addressing mandatory Roth catch-ups for certain participants and increased catch-ups for ages 60-63.
IRS issues final regs on RMDs and proposed regs on SECURE 2.0 RMD provisions. On July 19, 2024, the IRS released final and proposed regulations regarding the RMD rules. The regulations primarily address changes made by SECURE and updates related to SECURE 2.0.
When should employers amend their plan documents for SECURE, CARES and SECURE 2.0?
IRS issued guidance regarding certain exceptions to the 10% early distribution tax under IRC 72(t); Notice 2024-55 provides guidance on emergency personal expense and domestic abuse victim distributions.
The update SECURE 2.0 made to the mandatory small balance cash-out threshold has been widely covered — the maximum amount was increased from $5,000 to $7,000, effective Jan. 1, 2024. However, one lesser-known ramification of that statutory update was an increase in the maximum amount of 457(b) de minimis distributions.
On April 16, 2024, the Internal Revenue Service (“IRS”) released Notice 2024-35 that extended existing relief through 2024 for certain beneficiaries taking RMDs over a 10-year period following the death of a participant/IRA owner who had already commenced RMDs.
What changes did SECURE and SECURE 2.0 make for state and local governmental employers sponsoring eligible 457(b) deferred compensation plans?
Neither Voya Financial® nor its affiliated companies or representatives offer legal or tax advice. Please seek the advice of a tax attorney or tax advisor prior to making a tax-related insurance/investment decision.