On December 29, 2022, Congress signed a piece of legislation called SECURE Act 2.0 of 2022. Compared to the SECURE Act 1.0 that was enacted in December of 2019, which contained 29 provisions and total government spending of $15 billion, the SECURE Act 2.0 contains 92 provisions and $1.7 trillion in spending. Both pieces of legislation were designed to promote retirement security, including attempts to lower barriers to entry for people looking to save, expand access to participation in employer retirement plans and allow for greater flexibility for Americans experiencing hardship.