Kaplan: Analyzing The New Planning Opportunities In SECURE 2.0 For Retirement Plan Participants

Richard L. Kaplan (Illinois; Google Scholar), Analyzing the New Planning Opportunities in SECURE 2.0 for Retirement Plan Participants, 32 Elder L.J. 93 (2024):

This article examines and analyzes six major changes enacted by the SECURE 2.0 Act of 2022 pertaining to current plan participants in retirement plans. Those changes relate to: (1) increased contribution limits for 60-year-old employees, (2) longevity annuities, (3) charitable gift annuities, (4) long-term care insurance, (5) unused funds in section 529 college savings plans, and (6) emergency withdrawals. These provisions vary considerably in their connection to the principal purpose of employer-provided retirement plans – namely, to finance the retirement of affected employees. 

But they represent Congressional efforts to address some of the deficiencies in the present tax-subsidized matrix of employer-provided retirement savings plans and may appeal to affected plan participants. In this regard, they continue the pattern of recent years of using pension plans to accommodate an ever-widening array of social initiatives that are related only tangentially, if at all, to providing income when plan participants retire.

Editor's Note:  If you would like to receive a daily email with links to tax posts on TaxProf Blog, email me here.