Which SECURE 2022 changes are in effect now?

Which SECURE 2022 changes are in effect now?

Assume a § 401(a) plan with a § 401(k) arrangement for elective deferrals (non-Roth and Roth), but no matching or nonelective contribution.

Assume the plan has no automatic-contribution arrangement, and no auto-escalation provision.

Assume the plan’s year began January 1, 2023.

Assume the plan’s sponsor will amend and restate the documents within the remedial-amendment period.

Which SECURE 2022 changes now are mandated as a tax-qualification condition?

Which SECURE 2022 changes are permitted?

Let’s use our BenefitsLink community to see that we have a thorough list.

Remember, even if there’s a long delay about plan documents, we operate the plans now.

Here are a couple of articles that might provide starting points:

SECURE 2.0 in 2023 and beyond  (Eversheds Sutherland)

Secure 2.0 Highlights for Retirement Plan Sponsors  (Ice Miller)

(Caveat:  I haven't done any research to determine whether those lists are exhaustive.)

Are we assuming it is a brand new start-up plan as of 1/1/2023? Or a plan already in existence prior to the enactment?

Thanks. Assume a plan created before SECURE 2022, so auto- provisions are not required (and will not be added).

This list from NAPA https://www.napa-net.org/news-info/key-secure-20-act-provisions-and-effective-dates

Here's a 20-page chart from Seyfarth Shaw that includes effective dates and whether a plan amendment is required.

And a 10-page "Pocket Guide", organized by effective date, from Proskauer.

Gilmore, thank you for your sortable spreadsheet!

3 hours ago, Peter Gulia said:

Gilmore, thank you for your sortable spreadsheet!

Sure thing.  I posted it more for the structure than the content.  

22 hours ago, Gilmore said:

I am not an attorney, just a lowly TPA, but when I started reviewing the ACT, I thought I would create a spreadsheet that I could sort by the code section, effective date, etc.  This was just my first run through and obviously needs to be updated, but please feel free to take it and make it your own.

My gosh, thank you for sharing this!  This list is amazing, and I'm sure took you lots of time.  MUCH appreciated.