SECURE 2.0: Changes affecting defined benefit (DB) plans

 
The SECURE 2.0 Act of 2022 (Div. T of Pub. L. No. 117-328) is intended to build on changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (Div. O of Pub. L. No. 116-94). 
    • Eliminate variable-rate premium (VRP) indexing (Sec. 349)
    • Annual funding notice (AFN) enhancements (Sec. 343)
    • Increase involuntary cashout limit to $7,000 (Sec. 304) 
    • Lump sum window disclosure (Sec. 342)
    • Department of Labor (DOL) to review pension risk transfer guidance (Sec. 321) 
    • 420 transfers (Sec. 606)
    • Increase in required minimum distributions (RMD) age (Sec. 107)
    • Hybrid plans’ backloading testing (Sec. 348)
    • Extended deadline to adopt amendments increasing benefits (Sec. 316) 
    • Mortality tables (Sec. 335)
    • Section 415 limits for rural electric cooperative plans (Sec. 119) 
    • Distributions to retired public safety officers for health and long-term care premiums (Sec. 328) 

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