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Products January 9, 2020
Groom Launches SECURE Act Resources Library
The SECURE Act is the most significant piece of legislation affecting the U.S. retirement system in more than a decade and will inevitably affect the majority of Americans saving for retirement, according to Groom Law Group.
Reported by John Manganaro
Groom Law Group announced the launch of its SECURE Act Resource Library website: www.secureretirementact.com.
The launch comes a few weeks after the passage of the Setting Every Community Up for Retirement Enhancement Act, also known as the “SECURE Act.”
In order to provide a clearer understanding of the Act’s nearly 30 retirement provisions, the resource library was designed to provide employers and retirement plan service providers with easy access to the legislation and related regulatory guidance, key deadlines, necessary compliance measures, and insights from Groom legal professionals.
The firm says the SECURE Act Resource Library features relevant insights and important takeaways on key provisions that impact the establishment of multiple employer plans or pooled employer plans; the offering of in-plan lifetime income options; distributions from plans and individual retirement accounts (IRAs); and other facets of plan recordkeeping and administration.
“The passage of the SECURE Act has been a long time in the making and will have a profound impact on the retirement system,” says Michael Kreps, a principal at Groom.