SECURE Act 2.0: Summary of Different Changes

In this vlog, I will provide a summary of the key changes introduced by the SECURE Act 2.0 law I mentioned throughout this year. You can find all the vlogs about t hose changes on our website. 

    1. Required Minimum Distribution (RMD):
      • RMD starting age changed to 73 for those turning 73 between 2023-2032.
      • For those turning 73 in 2033 and beyond, RMD starts at 75.
      • Penalty for missed RMD reduced from 50% to 25%, potentially waived under specific conditions.
    2. 529 Plan Rollovers to Roth IRAs:
      • Beneficiaries can roll over up to $35,000 from 529 plans to Roth IRAs during their lifetime.
    3. Expanded Roth Contributions:
      • Employers can now allow contributions of employer matching and non-elective contributions to Roth accounts. However, it would be taxable to the employee.
    4. Elimination of RMDs for Roth Accounts within Employer Retirement Plans:
      • RMD obligation removed for employer retirement plan Roth accounts.
    5. Catch-Up Contributions:
      • Increased catch-up contribution amounts for those over 50.
      • Starting in 2026, those earning over $145,000 must make catch-up contributions to after-tax Roth. (Note: our previous vlog said it would start 2024 but the US Treasury delayed to 2026)
    6. ABLE Account:
      • Eligibility expanded; anyone disabled before age 46 can open an ABLE Account from 2026 onwards.
    7. Expand 401(k) and 403(b) Automatic Enrollment:
      • Automatic enrollment required for new plans starting in 2025.
      • Exception for small businesses, new businesses <3 years old, churches, and governmental plans.
    8. Annuities in 401(k) Plans:
      • SECURE Act 2.0 allows inclusion of annuity options in plans, with changes to regulations.
      • Qualified Longevity Annuity Contract (QLAC) Contributions increased to $200,000.
    9. Student Loan Matching Program:
      • Employers can make matching contributions based on employee’s student debt repayments to encourage retirement savings.
    10. Retirement Savings Lost and Found Database:
      • The U.S. Department of Labor is directed to create a national online lost and found database for locating retirement accounts.

Have questions about the SECURE Act 2.0 changes? Feel free to reach out anytime—we’re here to help and discuss!

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Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Adrianna Rocha joined Kramer Wealth Managers in 2021.

Adrianna is responsible for client experiences and service. As part of the customer service team, she strives to help and provide top-notch service to our clients. As part of her role, she communicates with clients through videophone, schedules client meetings, prepares and processes forms, and gathers information for our advisors.

Adrianna Rocha graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017. Before she joined our team, she worked in the customer service industry for nearly a decade. She excels in human-to-human relations and takes pride in not only her own accomplishments, but her clients’ as well. Adrianna enjoys chatting about her slight obsession with dogs, houseplants, essential oils, and food: especially Mexican food! She is also a proud fur-mama to her beautiful Aussie-mixed pup, Ziva.

Adrianna is not registered with Osaic Wealth.

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Since joining Kramer Wealth Managers in 2021, Adrianna Rocha has been a client service dynamo, ensuring every client interaction is seamless and delightful. She’s the go-to guru for all things client experience, handling everything from videophone chats to scheduling meetings and processing forms with a smile. Her goal? To make sure every client feels valued and well-cared-for.

Adrianna graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017 and brings nearly a decade of customer service experience to our team. She thrives on personal connections, celebrating both her achievements and those of our clients. When she’s not busy at work, you might find her indulging in her passions—dogs, houseplants, essential oils, and the tantalizing flavors of Mexican cuisine. Proud fur-mama to her adorable Aussie mix, Ziva. Adrianna brings a touch of warmth and enthusiasm to everything she does.

Q: What’s your favorite part of working with clients?

A:  I enjoy client service because it allows me to help people and make a positive impact. Using my listening skills to understand client needs and solve problems is satisfying. I love turning negative experiences positive and the daily variety of challenges.

Adrianna is not registered with Osaic Wealth.

Jack Morley

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
240-379-6909 FAX
info@kramerwealth.com

Jack Morley has been a vital part of the Kramer Wealth Managers team since 2010, starting with various projects and officially joining full-time in 2013. As our go-to Account Service Specialist, Jack is the friendly face and reliable voice who ensures a smooth client experience. He’s the linchpin in client communications, handling account maintenance and bridging connections between clients and our advisory team.

A 1998 graduate of Gallaudet University with a BA in Psychology, Jack brings a wealth of customer service experience from retail and human services. His handyman skills are a bonus, making him the resident problem-solver and DIY enthusiast. Outside the office, Jack enjoys long walks with his dog Bailey.

Married for 25 years to his wonderful wife, Monica, Jack is also the devoted dad to two dynamic daughters who keep him on his toes. When he’s not walking Bailey—he’s likely tinkering on a new project or spending quality time with his family.

Q: What’s your favorite part of working with clients?

A:  I enjoy assisting clients in maintaining their accounts and ensuring there is a smooth transition in between changes being made within their accounts.

Jack is not registered with Osaic Wealth.