The sweeping Secure Act 2.0 retirement bill could become law "within the next five or six weeks," as House and Senate lawmakers are busy hammering out which provisions should be included, J. Mark Iwry, the head of national retirement policy during the Obama-Biden administration who's now a non-resident senior fellow at the Brookings Institution, said Wednesday.
Speaking on a webcast held by the Worldwide Employee Benefits Network, Iwry said that Secure Act 2.0 has "major momentum," as all four congressional committees with retirement jurisdiction — the two tax-writing committees and two labor committees — have "unanimously approved different versions" of Secure 2.0, branded as separate bills.
Those "unanimous approvals," Iwry continued, "overlap heavily — a lot of the same provisions have been agreed to by more than one committee."
Secure Act 2.0 may contain up to 100 provisions and has been given a 40% chance of passage during the upcoming lame-duck session of Congress, Iwry relayed.
"A lot of provisions are now being considered, negotiated, combined, reconciled to form a single package that the House and Senate could act [on] and president could sign possibly as soon as next month," Iwry said.
Will Congress enact Secure Act 2.0 in the lame-duck session?
