The Secure 2.0 Act: What It Means for Your Retirement Savings

If you’ve been thinking about boosting your retirement savings, there’s never been a better time to act. The Secure 2.0 Act, signed into law in late 2022, introduces a host of changes aimed at improving retirement outcomes for individuals across the country. Whether you're a small business owner in Miami, a young professional in Boca Raton, or nearing retirement anywhere in the U.S., understanding the implications of the Secure 2.0 Act is essential for building a smart, sustainable retirement strategy.

At Frezzotti Financial Services, we help individuals and businesses navigate the ever-changing retirement landscape. Based in South Florida and proudly serving clients nationwide, we are here to break down what the Secure 2.0 Act means for your financial future—and how to take advantage of the new rules.

What Is the Secure 2.0 Act?

The Secure 2.0 Act—short for Setting Every Community Up for Retirement Enhancement 2.0—is a follow-up to the original SECURE Act passed in 2019. This legislation includes over 90 new provisions designed to make it easier for Americans to save for retirement, especially through employer-sponsored plans and IRAs.

The Secure 2.0 Act introduces meaningful updates to contribution limits, required minimum distributions (RMDs), and catch-up contributions. It’s part of a broader push by lawmakers to address the growing concern that too many Americans are underprepared for retirement.

Key Secure 2.0 Act Changes That Could Impact You

1. Increased RMD Age

Under the Secure 2.0 Act, the age for required minimum distributions (RMDs) has increased:

• From age 72 to age 73 starting in 2023

• Will increase again to age 75 by 2033

For retirees in Miami or anywhere in South Florida, this delay provides more time for tax-deferred growth in your traditional IRA or 401(k).

2. Higher Catch-Up Contributions for Older Workers

Beginning in 2025, workers aged 60 to 63 will be able to make enhanced catch-up contributions to their employer-sponsored retirement plans—up to $10,000 annually, adjusted for inflation.

If you’re in your early 60s and still working, this is a prime opportunity to supercharge your retirement savings—especially if you’ve fallen behind.

3. Automatic Enrollment in 401(k) Plans

Starting in 2025, most new 401(k) and 403(b) plans will be required to automatically enroll employees, with an initial contribution rate of at least 3%, increasing annually up to 10%.

For employers in South Florida, including small businesses in Fort Lauderdale, Palm Beach, or Coral Gables, this means reevaluating your retirement plan offerings. Frezzotti Financial Services offers national consulting on 401(k) plan design and compliance, making this transition seamless for your business.

4. Student Loan Matching Contributions

A groundbreaking new rule allows employers to match student loan payments with retirement contributions, starting in 2024. If you’re a younger employee burdened by student debt, this means you can still receive an employer match—even if you’re not yet contributing to your 401(k).

5. Emergency Savings and Roth Options

• Emergency savings accounts can now be added to retirement plans, allowing up to $2,500 in after-tax contributions that can be withdrawn penalty-free.

• More retirement plan contributions can now go to Roth accounts, offering tax-free growth and withdrawals in retirement.

These updates are ideal for younger professionals in Miami or clients seeking long-term tax flexibility, and our financial planners can help you weigh the benefits of Roth vs. traditional strategies.

How Frezzotti Financial Services Can Help

Whether you’re revisiting your IRA contributions, updating a 401(k) strategy, or planning for tax-efficient retirement income, understanding how the Secure 2.0 Act impacts your situation is crucial.

At Frezzotti Financial Services, we provide:

• Retirement planning for individuals, couples, and business owners

• Plan setup and support for small businesses and entrepreneurs

• Tax-efficient strategies tailored to your financial goals

• Virtual consultations for clients across the U.S., not just in Miami or South Florida

From West Palm Beach to Los Angeles, our licensed financial professionals bring personalized, practical guidance to every client conversation.

Ready to Maximize the Secure 2.0 Act’s Benefits?

The Secure 2.0 Act is reshaping the retirement landscape—and now is the time to make strategic adjustments that support your future. Whether you're trying to reduce taxes, grow wealth, or plan for legacy distribution, Frezzotti Financial Services can help.

Based in South Florida and serving clients nationwide, we’re your go-to partner for retirement planning, 401(k) optimization, and long-term financial growth.

Contact us today to schedule a personalized consultation and take full advantage of what the Secure 2.0 Act offers. Let’s build a retirement strategy that works for you—wherever you are.