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SECURE 2.0: Enhancements For Retirement Benefits In 2023 And Beyond

President Biden signed SECURE Act 2.0 on December 29, approved by a nonpartisan Congress. The legislative package of goodies significantly changes the retirement benefits landscape for the better.

These enhancements will strengthen Americans’ ability to save for retirement by raising the age for taking Required Minimum Distributions (RMDs), higher contribution limits for older savers, and providing automatic enrollment 401(k) plans.

This legislation adds to recent improvements in social security and Medicare. After a challenging year for retirees who grappled with high inflation, rising interest rates, and a bear market, they can cheer these new benefits.

This post appeared at Wealth Of Geeks.