Retirement security continues to be a priority for policymakers. The SECURE Act 2.0 will expand workers’ access to retirement savings and increase opportunities to save.

Executive Summary

Retirement security continues to be a priority for policymakers. Legislation that expands workers’ access to retirement savings plans and increases opportunities to save is underway. Passed at the end of 2019, the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) changed numerous retirement plan rules in order to encourage more employers to establish retirement plans and help individuals save more. Within months of passing these comprehensive retirement plan changes, legislators swiftly enacted temporary changes to allow savers to tap into their retirement assets for relief from financial strains caused by the COVID-19 pandemic. The financial hardships brought on by the pandemic — from increased unemployment and health expenses to earlier-thanplanned-for retirement — validate the importance of saving for both short-term emergency needs and retirement. Legislators have not lost sight of the initiative begun in 2019 and are taking action to build on the changes and momentum that started with the SECURE Act.

Given the evolving and dynamic nature of the legislative process, the information in the piece may not reflect the actual current state of the legislation and/or state that it was current as of 6/1/21.

“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. MacKay Shields LLC is an affiliate of New York Life Investment Management LLC. IndexIQ® is an indirect wholly owned subsidiary of New York Life Investment Management Holdings LLC and serves as the advisor to the IndexIQ ETFs. ALPS Distributors, Inc. (ALPS) is the principal underwriter of the ETFs. NYLIFE Distributors LLC is a distributor of the ETFs. NYLIFE Distributors LLC is located at 30 Hudson Street, Jersey City, NJ 07302. ALPS Distributors, Inc. is not affiliated with NYLIFE Distributors LLC. NYLIFE Distributors LLC is a Member FINRA/SIPC

1899258