Legislation Affecting You: Secure 2.0 Act

At Agili, we like to update you, our clients and friends, about legislation that affects your finances. In this video Financial Strategist Dan Honsberger, CFP® and Financial Planning Analyst Cody Santmyer, CFP® introduce our latest blog series, Secure 2.0 Act. (Remember, the official name for this legislation is Secure 2.0 Act, not Secure Act 2.0 as it is often mistakenly named.)

A transcript of the video can be found below.




Transcript of Video Introducing Secure 2.0 Act Blog Series

Hi, I’m Dan Honsberger and I’m a CERTIFIED FINANCIAL PLANNER™ professional and Financial Strategist at Agili.


And I’m Cody Santmyer. I’m also a CFP® certificant and a Financial Planning Analyst with Agili.


As members of Agili’s Financial Planning Team, we like to help you, our clients, better understand how new legislation affects your finances.


You may have heard about the new legislation that was passed in December of last year, Secure 2.0 Act. This Act has wide-ranging impact to both workers and retirees and we are introducing a new series of blog posts about the important elements of the Act that may impact you.


Secure 2.0 Act: Changes to RMDs

While this new legislation impacts both workers and retirees, one of the headline changes from the legislation has to do with Required Minimum Distributions, or RMDs. RMDs are the amount of money the IRS requires that someone withdraw from a pre-tax retirement account in a calendar year, so think of a 401(k), an IRA, a 403(b) — that sort of account.


The first blog post in our series will outline the Secure 2.0 Act’s changes to RMDs: The biggest change is for taxpayers born from 1951 to 1958 the age before they need to begin taking RMDs has increased from 72 to 73. For taxpayers born in 1960 or later, the RMD age increased to 75. To learn more about the RMD changes, check out our blog post.


Read the blog post, “Secure 2.0 Act Blog Series: Changes to RMDs”


Upcoming Blog Posts in Series

Another blog post in this series will cover employer contributions that can now be made to Roth accounts.  And later this year, we’ll talk about elements of the Secure 2.0 Act that go into effect in 2024.


We hope you will find our new blog series, Secure 2.0 Act, to be informative and helpful. As always, if you have any questions about how this legislation might affect you, please feel free to contact your financial strategist at Agili.


Thanks and have a great day.


Additional Resource:

The IRS published a comprehensive FAQs page on the topic of RMDs: Retirement Plan and IRA Required Minimum Distributions FAQs.


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