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SECURE Act
Legislation that expands opportunities for Americans to increase their retirement savings and improves the portability of lifetime income options from one plan to another.
The devil may be in the details, but they occur against a bigger backdrop. At a Feb. 7 session of the 2022 NTSA Summit in Phoenix, American Retirement Association Chief Content Officer Nevin Adams offered attendees a look at some big picture “seismic shifts” affecting the retirement industry. ...
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The nearly $2 trillion broad-based legislative package that includes mega Roth and other retirement-based revenue raisers does not appear to be moving anytime soon, but there is hope for bipartisan retirement legislation.
Speaking to reporters last week, Sen. Joe Manchin (D-WV)—who had been the...
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An annual survey which looks at changes employers intend to make to their benefit plans in the year ahead finds that financial wellbeing and retirement readiness remain the top priorities.
Like prior years, 28% of large employers said they are most focused on addressing broad financial wellbeing...
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Accumulation has long been the focus of retirement planning—but times are changing, and now the converse is coming into sharper focus.
In a session of the ASPPA Winter Symposium, Kelsey N.H. Mayo Partner, Employee Benefits Poyner Spruill LLP discussed this trend. “A huge part of the plan” has...
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While plan sponsors and DC specialists continue to share views on many aspects of plan support and service, a new survey finds that DC specialists have an opportunity to further demonstrate the value they provide.
According to the third edition of Voya Investment Management’s survey of plan...
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A record number of employees are eligible for and participating in 401(k) plans, and employers are increasing their default deferral limits in the wake of the SECURE Act, the Plan Sponsor Council of America has found.
Several factors shaped the 2020 retirement plan year—the pandemic and ensuing...
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Bipartisan retirement security legislation that shares some overlap with the SECURE Act 2.0—and is supported by the American Retirement Association—has been approved by a key House committee.
The House Education and Labor Committee on Nov. 10 approved the Retirement Improvement and Savings...
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The chairman and ranking member of the House Education and Labor Committee have introduced—and plan to act on—bipartisan legislation that shares some overlap with SECURE Act 2.0.
The Retirement Improvement and Savings Enhancement (RISE) Act (H.R. 5891) was introduced Nov. 5 by committee Chairman...
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An Oct. 19 session of the 2021 ASPPA Annual conference took a look at what’s going on with restatements and what the future may hold.
Under Revenue Procedure (Rev. Proc.) 2020-10, said Brian Furgala, Director of ERISA Services of Wolters Kluwer, the Cycle 3 restatement period began May 1, 2020...
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One of the most significant challenge facing Pooled Employer Plans (PEPs) and Multiple Employer Plans (MEPs) is probably having to deal with “bad acting employers,” that is, those who won’t provide sufficient information to auditors to complete the audit for the whole plan, those regularly do not...
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Editor’s Note: The House Ways and Means Committee recently approved funding provisions for the Build Back Better Act of 2021, including several retirement plan provisions (starting on page 665, and summarized here.)
That part of the bill is aimed at limiting the ability of high-income...
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This is a pretty exciting time in the defined contribution plan marketplace. Years of work from a number of different quarters seem to be finally beginning to coalesce around the notion of sanely “decumulating” assets from DC plans. I wonder if a measure of all this may be the growing catalog of...
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The Department of Labor (DOL), IRS and Pension Benefit Guaranty Corporation (PBGC) on Sept. 14 issued proposed revisions to the Form 5500. The changes primarily relate to statutory amendments to ERISA and the Internal Revenue Code enacted as part of the Setting Every Community Up for Retirement...
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The retirement industry got two new plan types via the SECURE Act—pooled employer plans (PEPs) and “groups of plans” (GoPs). But proposed regulations issued on Sept. 14 might effectively kill the GoP provision as a useful product tool. This piece reflects the author’s first look at the proposed...
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There have been many changes in the last year in the rules governing distributions, rollovers, loans and more. A workshop in the recent NTSA Summit offered a detailed look at those changes.
In “Navigating the New Minefield of Distributions, Repayments/Rollovers, & Loans,” Susan Jennings, an...
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted on the cusp of 2020—and before the dust even settled, new guidance and additional measures were enacted. In an ASPPA webcast, an industry expert looked at some key considerations for designed-based safe harbor 401(k...
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Sens. Todd Young (R-IN) and Cory Booker (D-NJ) have reintroduced several bills to help boost retirement security for individuals and families.
Citing data by the U.S. Department of Labor showing that more than 40 million people do not have access to any workplace retirement plan, the pair...
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The Internal Revenue Service has announced a significant update with regard to Form 5500 filing requirements.
Section 201 of the Setting Every Community Up for Retirement Enhancement (SECURE) Act permits an employer to adopt a retirement plan after the close of the employer’s taxable year (by...
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Brian Graff, CEO of the American Retirement Association, is set to appear next week before Congress to advocate for the retirement policy priorities of the ARA.
The hearing, entitled “Building on Bipartisan Retirement Legislation: How Can Congress Help?,” is scheduled for Wednesday, July 28, at 10...
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There is plenty of activity on Capitol Hill, but it comes amid a climate that creates challenges for the retirement industry, American Retirement Association CEO Brian Graff noted June 29. Graff addressed a virtual general session of the National Tax Deferred Savings Association's annual...
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