2022 – 12/21 A new law aimed at bolstering retirement saving is closer to becoming reality after two years of fine tuning. The Securing a Strong Retirement Act of 2022 (Secure Act 2.0) is part of the omnibus spending bill that Congress is taking up before year end. This version was approved last spring by the U.S. House of Representatives. Among the many proposed changes are a new tax credit for some small employers of military spouses, a 50% saver’s credit and an increased small employer startup credit. Given the current economic hardship factors that impact taxpayers’ ability to financially plan, observers in the retirement industry see strong bipartisan support for the bill’s passage. Stay tuned!

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