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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 Treasury Department and the Securities and Exchange Commission offered a look at their regulatory priorities for the coming months on June 11, including proposals in the pre-rule and final stages.
For the Treasury Department, this semiannual regulatory to-do list was the first offered under...
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There’s a lot to unpack in what’s been called “SECURE 2.0”—but here are some aspects you may have missed.
Building on a wide-ranging series of retirement plan design enhancements introduced by the Setting Every Community Up For Retirement Enhancement (SECURE) Act of 2019 (hence, SECURE 2.0),...
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The Securing a Strong Retirement Act (SSRA)—a.k.a. SECURE 2.0—is wending its way through Capitol Hill. The measure contains a wide range of provisions that would affect retirement saving, plans and participants. A recent Plan Sponsor Council of America (PSCA) webinar zeroed in on some key...
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The American Retirement Association is calling on the IRS to issue guidance immediately addressing the SECURE Act’s long-term part-time employee rule that has immediate impacts on plan sponsors.
In a May 21 letter to the IRS, the ARA recommends that the agency issue guidance under section 112 of...
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The “SECURE Act 2.0” legislation that the House Ways & Means Committee will mark up May 5 includes several new provisions, including those championed by the ARA, as well as changes to some of the existing provisions. Here’s a closer look.
Committee Chairman Richard Neal (D-MA), along with the...
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The bill, which builds on the SECURE Act and includes several provisions advanced by the American Retirement Association, now goes to the House floor for a vote.
The Ways & Means Committee approved the Securing a Strong Retirement Act of 2021 (H.R. 2954) on May 5 by a unanimous voice vote....
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A year ago today [March 16] was the last time I was in our office with it full of colleagues. Like many of you, we came in, packed up, and headed home—prepared to work from there for a couple of weeks, perhaps a month.
Of course, that didn’t turn out to be the case.
And yet—as an industry,...
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The year 2021 is upon us, and with that, the SECURE Act’s much-anticipated pooled employer plans (PEPs) are coming online. Many firms have already announced that they plan to offer PEPs, but will they be a game-changer or slow to get off the ground? A recent report by Cerulli looks at some of the...
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The Office of Information and Regulatory Affairs of the Office of Management and Budget has outlined the regulatory agenda of the IRS, and the status of the rules that are part of it.
Proposed Rules
Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057. Would provide...
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The Plan Sponsor Council of America’s Annual Survey shows that 2019 was a banner year for retirement plans—and doubtless a valuable lifeline for many during the COVID-19 pandemic.
For the third year in a row, the survey—PSCA’s 63rd Annual—found record contribution and participation rates....
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The chances that bipartisan retirement security legislation could be acted on next year got a boost, as the American Retirement Association and witnesses at a Senate hearing urged Congress to act to help Americans save more for retirement.
Expanding the start-up credit for small businesses,...
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The IRS on Dec. 9 issued guidance that addresses certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE) Act Provisions that increase the automatic enrollment cap percentage and affect safe harbor plans, including safe harbor 401(k) plans and certain 403...
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The IRS on Nov. 20 issued the 2020 list of required amendments (RA) for individually designed plans qualified under Internal Revenue Code Sections 401(a) and 403(b). The list is contained in Notice 2020-83.
Under Section 5 of Revenue Procedure (Rev. Proc.) 2016-37, in the case of a qualified...
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The priority guidance plan that the Treasury and IRS have issued for 2020-21 includes plans for action that will affect retirement plans. They unveiled the plan on Nov. 17.
The 2020-2021 Priority Guidance Plan contains guidance projects that will be the focus of the efforts by the Treasury and...
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In a Nov. 11 webinar, American Retirement Association Director of Legislative Affairs Andrew Remo took at look at where current legislative proposals stand in the wake of the elections.
Currently, Congress is in a “lame duck” session, the period between the election and the end of the 116th...
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The American Retirement Association (ARA) has submitted a comment letter to the IRS about long-term, part-time (LTPT) employees.
The Nov. 2 letter was in response to the IRS invitation in Notice 2020-68 regarding how to reduce potential administrative burdens related to counting years of service...
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With the enactment of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, the climate changed for multiple employer plans (MEPs) and pooled employer plans (PEPs). A Nov. 2 session of ASPPA All Access discussed factors facing service providers concerning these arrangements.
The...
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Release by the Department of Labor (DOL) of final regulations implementing the registration requirements for Pooled Plan Providers (PPPs) to market Pooled Employer Plans (PEPs) could come any day now.
According to the White House’s Office of Management Budget website, the Office of Information and...
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Bob Reynolds, President & CEO of Putnam Investments, spoke recently about what he sees for the future of the retirement industry, public policy developments and his perspective on product innovation and market consolidation.
Reynolds, along with John Mitchem, Principal of JM3 Projects as...
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Limiting plan loans from has come into sharper relief during the COVID-driven economic turbulence. A recent blog post suggests that there are many aspects of plan loans that are especially advantageous to participants at this time.
In “Should Retirement Plan Sponsors Be Limiting Plan Loans?,” an...
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