Compliance February 10th, 2023 Will RMD Age Increases Cause ‘Abandoned’ Property Problems? SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Compliance January 25th, 2023 SECURE 2.0 Error Threatens Catch-Up Contributions, but Meaning Is Clear A mistake in SECURE 2.0 legislation would eliminate both future and existing retirement plan catch-up contributions, though IRS interpretation to...
Products January 23rd, 2023 Delta Taps Fidelity to Run New Emergency Savings Program Starting in January, Delta will give eligible employees up to $1,000 toward an emergency savings account if they complete a...
Compliance January 20th, 2023 Regulatory and Statutory Changes Coming to Self-Corrections Programs Plans will find more room to correct their own mistakes under SECURE 2.0 and a DOL proposed rule change.
Compliance January 19th, 2023 Small Businesses and SECURE 2.0: Exemptions and Tax Credits SECURE 2.0 offers tax credits to create plans, as well as to join existing PEPs and MEPs.
Deals & People January 13th, 2023 BlackRock Invests in Small Business 401(k) Provider Human Interest BlackRock’s investment comes on the heels of retirement legislation designed to increase retirement plan coverage by small businesses.
Compliance January 12th, 2023 529s and ABLE Accounts Both Get a Boost from SECURE 2.0 The changes make it possible to roll over 529s into Roth IRAs and easier to qualify for an ABLE account.
Deals & People January 11th, 2023 Carson Partners with “Conflict Free” Vestwell on 401(k) Offering Vestwell will provide financial advisory Carson Group with small and midsize business 401(k) and 403(b) plan programs for its investment...
Compliance January 10th, 2023 Age-Specific Changes Found in SECURE 2.0 SECURE increases the RMD age and expands the amount of catch-up contributions certain participants can make.
Compliance January 10th, 2023 DOL to Consult Industry on How To “Facilitate” PEP Uptake Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to...
Compliance January 9th, 2023 How SECURE 2.0 Will Affect New Plan Creation The two main provisions affecting new plan creation are required automatic features and more generous tax credits.
Compliance January 6th, 2023 After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Compliance January 3rd, 2023 Implementing SECURE’s Emergency Savings Provisions Emergency savings options within retirement plans will finally be possible in 2024. But implementing them will require work that might...
Compliance January 3rd, 2023 SECURE 2.0 Changes Backloading Test for Cash Balance Plans The retirement reform legislation requires interest credits to be “reasonable” and no higher than 6%.
Compliance December 30th, 2022 Biden Signs SECURE 2.0 Into Law The retirement reform legislation is now officially passed, with widespread industry support.
Compliance December 27th, 2022 How Does One Implement a Student Loan Matching Benefit? SECURE 2.0 allows sponsors to offer retirement matching contributions for participant student loan payments.
Compliance December 23rd, 2022 Congress Passes SECURE 2.0, Forwarding Second Major Retirement Reform in Three Years The passage of sweeping policy to increase retirement saving among Americans now awaits presidential signature.
Compliance December 21st, 2022 Employee Stock Ownership Plans To Get a Boost from Omnibus Package Provisions found in the Work Act and SECURE 2.0 Act, both parts of the spending package, are intended to promote...
Compliance December 20th, 2022 SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
In Practice December 20th, 2022 Retirement Advisers Increasingly Want PEP Option in Toolbox Pooled employer plans are still a nascent offering in the retirement market, but an increasing number of advisers want them...