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IRS Issues Grab Bag Notice Addressing Various SECURE 2.0 Provisions

January 24, 2024

The IRS recently issued Notice 2024-02— dubbed the “Grab Bag Notice”— which addresses multiple provisions in SECURE 2.0. The guidance is 81 pages long, comes in the form of frequently asked questions and answers, and speaks to a wide variety of topics on several provisions of SECURE 2.0 which either already are, or will soon become, effective. While the Grab Bag Notice addresses a varying array of topics, some highlights of interest to many plan sponsors include:

A plan sponsor can always adopt amendments to reflect optional provisions after those dates, but dates, but will not be entitled to the anti-cutback relief.

The Grab Bag Notice addresses several other provisions of SECURE 2.0, including:

This is a brief overview of some of the topics addressed in the Grab Bag Notice. If you would like additional information about these topics, or SECURE 2.0 in general, please contact the authors of this article or your Miller Canfield attorney.