Collective investment trusts (CITs) are a greater focus of attention and activity in the wake of SECURE 2.0, as a recent Congressional Research Service (CRS) report highlights.
In “Pensions... Read More
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SECURE 2.0
BY Ted Godbout | 4/9/2024
A new survey-driven analysis of the Saver’s Match enacted under the SECURE 2.0 Act finds that the program has the potential to be a “force multiplier” in helping lower-to-middle income Americans... Read More
BY John Iekel | 4/3/2024
The Treasury Department, the Department of Labor’s Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC) have announced that they are... Read More
BY John Iekel | 3/7/2024
It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.
More precisely,... Read More
BY John Sullivan | 3/5/2024
An important (and frustrating) point about the coverage gap is that despite industry outreach and education efforts, too many American workers and their employers are simply unaware of the benefits... Read More
BY John Sullivan | 2/22/2024
On Tuesday, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that... Read More
BY Ted Godbout | 2/6/2024
Despite the SECURE and SECURE 2.0 acts essentially making it free for small business owners to offer a retirement plan, new research finds that many are still harboring old excuses for not providing... Read More
BY Hattie Greenan | 1/30/2024
One of the optional provisions in the SECURE 2.0 Act that some employers were very excited about is the provision to allow a 401(k) match based on a participant’s student loan payment rather than... Read More
BY Ted Godbout | 1/29/2024
The American Retirement Association (ARA) is calling on the IRS to revise several provisions contained in the proposed long-term, part-time employee (LTPTE) rules for 401(k) plans.
Chief among the... Read More
BY Ted Godbout | 1/25/2024
The New York-based, fintech 401(k) service provider announced that it has launched the first commercial product allowing small- and mid-sized employers to automatically match employee student loan... Read More
BY John Sullivan | 1/23/2024
One provision in particular in SECURE 2.0 is receiving the lion’s share of attention from retirement plan sponsors and participants. Section 110 allows student loan payments to be treated as elective... Read More
BY John Sullivan | 1/22/2024
Increasing participant engagement in retirement plans is an ongoing and evergreen challenge, one that SECURE 2.0 provisions going into effect in 2024 may help mitigate, according to a new report from... Read More
BY Ted Godbout | 1/22/2024
As required by the SECURE 2.0 Act of 2022, the three primary agencies charged with overseeing retirement plans have issued a joint request for information (RFI) to help improve the effectiveness of... Read More
BY John Sullivan | 1/18/2024
Retirement plan advisors are busy helping their plan sponsor clients (and participants) sift through the 92 mandatory and optional provisions in SECURE 2.0, especially highlighting those most... Read More
BY John Sullivan and Ted Godbout | 1/17/2024
On the heels of last week’s IRS guidance on pension-linked emergency savings accounts (PLESAs), the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) followed suit on... Read More
BY Nevin E. Adams, JD | 1/12/2024
The Internal Revenue Service (IRS) has issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs).
Authorized under the SECURE 2.0 Act of... Read More
BY John Sullivan | 1/10/2024
It’s a big year for the implementation of certain SECURE 2.0 provisions. While many of the items are optional, it represents an excellent opportunity for advisors to get in front of plan sponsors to... Read More
BY John Iekel | 1/4/2024
The IRS has updated Form 8881, Credit for Small Employer Pension Plan Startup Costs, Auto-Enrollment, and Military Spouse Participation, for 2023 filing to reflect provisions in SECURE 2.0... Read More
BY Ted Godbout | 12/27/2023
For those looking for an official analysis and explanation of the SECURE 2.0 Act of 2022, Congress’ Joint Committee on Taxation (JCT) has just posted a helpful resource.
Prepared by the staff of... Read More
BY Kelsey Mayo | 12/26/2023
On December 20, the IRS released the long-awaited SECURE 2.0 guidance (a/k/a the “Grab Bag”) in the form of Notice 2024-02. The notice is 81 pages of Frequently Asked Questions (FAQs) on... Read More
BY Ted Godbout | 12/20/2023
The Internal Revenue Service has just released new guidance in the form of questions and answers addressing several key provisions contained in the SECURE 2.0 Act of 2022.
The IRS advises that the... Read More
BY Ted Godbout | 12/6/2023
In a positive sign that lawmakers are committed to fixing several errors contained in the SECURE 2.0 Act, the House and Senate have just released a draft technical corrections bill, including changes... Read More
BY Ted Godbout | 12/4/2023
A key theme that has emerged from Alight’s annual “hot topics” survey is that employers need more guidance on key provisions in the SECURE 2.0 Act before fully embracing them.
In looking at... Read More
BY Kelsey H. Mayo and Robert M. Richter | 11/27/2023
On Nov. 24, 2023—yes, the day after Thanksgiving!—the Department of Treasury and Internal Revenue Service released a proposed regulation (the “Prop. Reg.”) providing much-anticipated guidance on the... Read More
BY Andrew Remo | 11/27/2023
It has been nearly a year since Congress passed the SECURE 2.0 Act. As the name of the bill suggests, that law was the second significant retirement savings policy bill enacted in the span of five... Read More
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