Biden Budget Battle Complicates Secure Act 2.0 Timing

What remains in flux, Campbell said, is whether Secure Act 2.0 and/or related Senate legislation "would be treated as a standalone bill or incorporated into another bill or bills moving through the Congress."

A bill going through the budget reconciliation process, for instance, "would be an imperfect vehicle, as not all of the Secure Act [2.0] provisions likely would be eligible for inclusion, but it is possible that some of its provisions that directly affect revenue and spending could be attached," Campbell said on the webcast.

The "much bigger set of tax issues under consideration from the Biden administration and in particular being negotiated in the Senate, and how some of that fares could have an impact on the Secure Act [2.0] as well, because as we look at getting into pay-fors and other tax provisions that could affect some of the provisions in the Secure Act [2.0] as well," Campbell said.

There is "wide, bipartisan support for these [retirement-related] bills, and a variety of possible paths, but the mechanics of passing them are still somewhat murky," Campbell added. "I remain fairly confident, however, that some version of the [Secure Act 2.0] legislation has a good chance of passing this year."