The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which passed the House in a sweeping 417-3 vote, was incorporated into an end-of-year spending bill and was signed by the President on December 20, 2019. SECURE will vastly change the way savers think about saving for retirement. The Act consists of 29 provisions covering a variety of enhancements to qualified plan rules, including allowing long-term part-time workers to participate in 401(k) plans and letting small employers join together to make it possible to offer their employees 401(k) plans. There are, however, two standout provisions that will affect the way many savers look at retirement.
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