- SECURE Act 2.0, passed in December 2022, expanded on the 2019 SECURE Act to encourage retirement savings and create more defined contribution (DC) plans. Among its key provisions, SECURE 2.0 expanded tax credits to help employers offset DC plan costs and requires many more employers to automatically enroll employees in DC plans starting in 2025.
- Based on a September FUSE survey of 80 advisors who specialize in DC plans, 59% expect SECURE Act 2.0 provisions to increase their revenues by 1% to 10% by the end of 2025.
- Meanwhile, 33% foresee no impact on revenues from the SECURE Act 2.0. Only 9% of specialist plan advisors anticipate the law will increase their revenues by 10% or greater by the end of next year.
- Asset managers may be able to create value-add programs that help DC plan advisors work with sponsors to implement SECURE Act 2.0 provisions and expand access to DC plans.
