GuideStone® announced the launch of its online resource, GuideStone.org/SecureAct2, assisting churches and ministry-related organizations and their employees with navigating changes to 403(b) retirement plans in accordance with the SECURE 2.0 Act (SECURE 2.0). This resource will be updated as new guidance is issued by the IRS to assist organizations in complying with the provisions of SECURE 2.0 over the coming years.
SECURE 2.0 was signed into law on December 29, 2022, with the purpose of improving Americans’ retirement opportunities by reducing barriers that stand in the way of individuals being able to save. SECURE 2.0 provisions include changes such as raising the Required Minimum Distribution (RMD) to 73 this year, allowing for Roth employer contributions, increasing the current catch-up contribution limit and permitting student loan matching contributions and emergency savings accounts within individuals’ retirement plans. Timelines for these and other provisions are available at GuideStone.org/SecureAct2.
“Churches and ministries can trust GuideStone to implement these new rules for 403(b) retirement plans,” said Christy Teeter, Chief Retirement Officer. “Our mission with this educational site is for ministries and their employees to have confidence in making timely, well-informed decisions, so that they can focus on the ministry to which they have been called.”
GuideStone evaluates the SECURE 2.0 Act provisions with retirement expertise and a biblical perspective on how ministry partners and their employees can navigate these legislative changes to strengthen their retirement preparedness and steward their money and resources in order to finish well.
“At GuideStone, we are committed to helping build financial security and resilience for those who serve the Lord. That includes helping you understand and make the most of your retirement plan as it relates to this new legislation,” said Hance Dilbeck, GuideStone President.
Roy Hayhurst is the director of denominational and public relations at GuideStone.
Director of Denominational and Public Relations
GuideStone Financial Resources of the Southern Baptist Convention
Roy.Hayhurst@GuideStone.org | (214) 720-2141