Fred Reish Discusses Potential Third Installment of the SECURE Act With Financial Advisor

In the Financial Advisor article, “Expect Congress To Introduce SECURE 3.0 Next Year, Industry Insiders Say,” the publication turned to benefits and executive compensation partner Fred Reish for insight on how Congress may approach an additional installment of the SECURE Act next year.

The publication noted that the legislation would be the third installment of the historically bipartisan SECURE Acts, which Congress passed in 2019 and 2022 respectively, creating significant changes to Americans’ retirement and estate plans.

Reish said he is predicting “we will have a bill enacted in 2025 or 2026,” focused on expanding retirement security. He added that the "big issues" will be getting more employers, particularly small employers, to sponsor deferral-based retirement plans, getting more workers into plans, including gig workers, and promoting solutions for retirement income.

Reish also noted that he thought the bill will be a “collaborative effort” with Republicans pushing for incentives like tax credits, while Democrats will seek mandates like the expansion of automatic enrollment, and that he expects both parties to look to narrowing eligibility for Roth IRAs to offset costs.