When President Trump signed The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) into law, he put changes in motion that substantially modify many of the rules governing retirement plans. The SECURE Act promises to have a major impact on the structure and administration of retirement plan, especially since its sweeping rule changes generally apply to tax years beginning after 2019.
Where can you get expert analysis that looks at the whole picture?
SECURE Act Provisions of the Further Consolidated Appropriations Act, 2020: Law, Explanation and Analysis provides a provision-by-provision summary of all the retirement-related IRC and ERISA changes, including helpful commentary, insights, and examples. This covers:
Requirements for new Multiple Employer Plan: Pooled Employer Plan
Changes to notice requirements and amendment deadlines related to nonelective safe harbor plans.
Tax credits for small employer pension plans
Repeal of maximum age for contributions to a traditional IRA
Portability of lifetime income options
Expansion of plan eligibility requirements to cover long term part-time employees
Increase of age for taking required minimum distributions
Lifetime income disclosure
Optional fiduciary safe harbor for selection of lifetime income provider
Modification of nondiscrimination cross-testing rules
Modification of required distribution rules for designated beneficiaries
Get ahead of all the requirements, changes, expansions and modifications this sweeping legislation brings into effect and order your copy of SECURE Act: Law, Explanation and Analysis.