Kreps Comments on Potential Effects of 2022 Midterms on SECURE 2.0

In the article, “Midterm Election Results Could Delay SECURE 2.0,” where PLANADVISER laid out its coverage of the midterm elections and the possibility of a shift Congressional power impacting retirement legislation, namely the delay of passage of SECURE 2.0, Groom principal and co-chair of the Retirement Services practice Michael Kreps gave his thoughts on potential outcomes of SECURE 2.0.

When discussing SECURE 2.0, Kreps said, “Republicans are going to have to decide if they’re going to do a year-end spending bill and if they want to include retirement as part of that.” He added, “It’s just not possible to predict, but it could happen that it goes next year or even the end of next year.”

Kreps also explained that it is “really difficult to say whether any [election] scenario [on SECURE 2.0 passing] results in more or less likelihood.”

PLANADVISER reiterated Kreps noting that “the original SECURE Act was ‘largely finished’ in 2015 but did not pass until the end of 2019.”

“There is nothing in the House or Senate package that is an absolute deal-stopper,” he added. “A deal is possible and there is a will—the question is whether there is a will for this year.”

To read the article, click here.