Notice 2023-62 provides an administrative transition period for Roth catch-up contributions to high-income individuals.
Employers that understand SECURE 2.0's new requirements and the pros and cons of adopting optional provisions can implement the act effectively.
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
The SECURE 2.0 Act of 2022 includes over 90 provisions that have implications for retirement plans. Here are some of the changes that will be more impactful to retirement plans and plan sponsors.
SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
For many years, beneficiaries of inherited IRAs were permitted to withdraw the balances over their life expectancies. Then, the SECURE Act largely eliminated this tax deferral opportunity. Its effective date of December 31, 2019 could be called “The Day the Stretch IRA Died”.
Although the 2019 SECURE Act was the most significant retirement plan policy legislation in over 10 years, its provisions have been somewhat in the background due to COVID-19. We've highlighted the following provisions that plan sponsors and employers without a plan may want to consider now.
The changes to 401(k) plans brought on by the SECURE Act, signed into law in December 2019, may have been lost in the chaos of [...]
Since the SECURE Act passed in December of 2019, several clients have reached out regarding the so-called “10 Year Rule” which stipulates all retirement assets must be distributed to certain beneficiaries within 10 years of the client’s passing.