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LEGISLATIVE NEWS & UPDATES

SECURE 2.0

The SECURE Act has made a significant impact on the retirement industry since its introduction, with the legislation opening up access to retirement savings plans, making it easier for small business owners to start and operate a plan, and increasing the benefits of doing so.

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Review the benefits of SECURE 2.0.

Calculate potential tax credits Explore plan features

Resources

SECURE 2.0 contains a variety of provisions and mandates that business owners and retirement savers alike should be aware of. Check out the resources below to learn more about the rules, timelines, and new credits available outlined by SECURE Act legislation.

Provisions & Priorities
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SECURE 2.0 Key Provisions: What Plan Sponsors Need to Know

Learn more about the key SECURE 2.0 provisions that may impact your company’s retirement plan.

SECURE 2.0 Act Tax Credits for Eligible Employers >

Use this resource to learn more about the tax credits made available by the SECURE 2.0 Act.

Defined Contribution Plan Key Priorities >

Use this resource to prioritize key SECURE 2.0 provisions relating to defined contribution plans.

IRA/SEP/SIMPLE Key Priorities >

Review applicable provisions and priorities for SEP and SIMPLE IRA offerings.

Defined Benefit/Cash Balance Plan Key Priorities >

Learn more about key provisions applicable for defined benefit and cash balance retirement plans.

 Contributions
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Tax Credits Available for Small Employers

Learn about the tax credits available for small employers that sponsor a retirement plan.

New Plans Required to Contain Automatic Enrollment Feature >

Review the automatic enrollment provision to ensure your company’s retirement plan remains in compliance.

Improved Coverage for Long-Term, Part-Time Employees >

Use this resource to review the expanded coverage for long-term, part-time employees under the SECURE Act.

Retroactive First-Year Elective Deferrals for Sole Proprietors >

Learn more about retroactive deferrals for sole proprietors and owners of single-member LLCs for their first plan year.

Military Spouse Retirement Plan Eligibility Credit for Small Employers >

Review eligibility requirements for tax credits available to certain employers that include military spouses in their defined contribution plan.

Pension-Linked Emergency Savings Account Eligibility & Contributions >

Use this resource to learn how the PLESA can help more retirement plan participants financially prepare for day-to-day emergencies.

 Distributions
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New Ways to Take Penalty-Free Distributions

Review the various ways the SECURE Act enhances individuals’ accessibility to their retirement savings.

Increased RMD Age >

Use this resource to review newly increased RMD ages, effective for distributions in 2023 and on.

New Penalty-Free Distribution Option Added for Certain Emergency Expenses >

Learn more about new penalty-free distribution options for retirement savers.

 News

SECURE 2.0 Expands Roth Options for SEP and SIMPLE Plans

Before SECURE 2.0’s enactment, SEP and SIMPLE IRA plan contributions had to be made as pre-tax contributions, but now employers may allow employees to elect to have contributions into a SEP or SIMPLE IRA made as Roth contributions.
Industry & Regulatory News SECURE 2.0 Legislative updates News Articles

EBSA Releases ESOP Guidance Under SECURE 2.0

The Department of Labor’s Employee Benefits Security Administration has issued a proposed rule and class exemption implementing acceptable standards and procedures to establish good faith for market value for shares to be acquired by an ESOP pursuant to SECURE 2.0. The proposal provides guidance governing the determination of fair market value in accordance with the definition of the term “adequate consideration” under ERISA as applied to certain ESOP transactions involving employer stock. Comments are due within 75 days of publication in the Federal Register.
Industry & Regulatory News SECURE 2.0 DOL Defined contribution plan News Articles

2025 Brings More Deferral Opportunities for Employees

Thanks to the SECURE 2.0 Act, certain employees will have more deferral opportunities beginning in 2025. Read below to learn how much employees can contribute to their retirement plan and about the types of deferrals that may be available.
Industry & Regulatory News SECURE 2.0 Defined contribution plan IRS IRS Guidance News Articles

Student Loan Repayments and Matching Contributions

Student Loan Repayments Employers may now treat an employee’s qualified student loan payments like elective deferrals or after-tax contributions for purposes of providing an employer matching contribution.
Industry & Regulatory News SECURE 2.0 News Articles

IRS Releases Guidance on Inadvertent Benefit Overpayments under SECURE 2.0

The Internal Revenue Service has released Notice 2024-77, Guidance Under Sections 414(aa) and 402(c)(12) of the Internal Revenue Code with Respect to Inadvertent Benefit Overpayments.
Industry & Regulatory News SECURE 2.0 IRS IRS Guidance IRA Defined contribution plan News Articles

IRS Releases 403(b) Long-Term Part-Time Guidance

The IRS has issued Notice 2024-73, providing question-and-answer guidance on long-term, part-time employees in 403(b) plans. Guidance is applicable for plan years beginning after December 31, 2024.
Industry & Regulatory News SECURE 2.0 Legislative updates Defined contribution plan News Articles

IRA and Employer Plan Disaster Relief

For years, Congress and the IRS have addressed natural disasters (and others) with largely piecemeal responses. For example, when a major hurricane struck, the President would declare a federal disaster, Congress would grant certain relief, and the IRS would implement the details, such as determining the timing of allowable distributions from retirement plans and extending filing deadlines.
Industry & Regulatory News SECURE 2.0 Defined contribution plan IRA IRS IRS Guidance News Articles

More Changes for RMDs

In 2019, the SECURE Act made several changes to the rules for retirement plans and IRAs, including raising the applicable RMD age from 70½ to 72.
Industry & Regulatory News SECURE 2.0 Legislative updates IRA Defined benefit plan Defined contribution plan News Articles

SECURE 2.0 Expands Roth Options for Employer-Sponsored Retirement Plans

The SECURE 2.0 Act contains provisions that allow individuals to place more of their assets into Roth accounts.
Industry & Regulatory News SECURE 2.0 Legislative updates Defined contribution plan News Articles
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SECURE Act Video Series

Our experts outline the impact of key provisions of the SECURE Act.

Tax Credits

Tax Credits

 Long-Term Part-Time Employees

Long-Term Part-Time Employees

 State Mandated Plans

State Mandated Plans

 Employer Roth Contributions

Employer Roth Contributions

 Replacing SIMPLE Plan

Replacing SIMPLE Plan

 Financial Incentives for Contributions

Financial Incentives for Contributions

 Expanding Automatic Enrollment

Expanding Automatic Enrollment

 Employer Tax Credits

Employer Tax Credits

 Corrections for Elective Deferral Failures

Corrections for Elective Deferral Failures

 Terminal Illness

Terminal Illness

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