For practice owners, the recruitment, development and retention of professional staff as well as lay staff are some of the biggest challenges. Retirement plan offerings can be a differentiator between practices, and the design and implementation of tax-advantaged retirement plans are changing rapidly. On December 29, 2022, the SECURE 2.0 Act of 2022 was signed into law. This act builds on improvements made in the rules governing retirement plans that were enacted in the SECURE Act of 2019.
