SECURE Act
A month ago, the Labor Department unveiled an interim final rule on lifetime income disclosures on participant statements. Today the window for comments opens.
Under the Interim Final Rule, retirement plans would provide lifetime income illustrations using prescribed assumptions designed, the DOL...
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The IRS has provided some answers to questions concerning the small employer automatic enrollment credit, part-time vesting rules and other provisions under the Setting Every Community Up for Retirement Enhancement Act (SECURE Act).
IRS Notice 2020-68, issued Sept. 2, provides guidance on some...
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In the latest of a series of regulatory announcements, updates and proposals, the Department of Labor (DOL) has unveiled an Interim Final Rule on lifetime income disclosures under the SECURE Act.
Under the Interim Final Rule, retirement plans would provide lifetime income illustrations using...
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In MarketBeat, Maria Hurd writes about the required minimum distribution rules under the SECURE Act and how they affect financial statement audits.
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The recently enacted SECURE (Setting Every Community Up for Retirement) Act of 2019 allows an increase to the maximum age for traditional IRA contributions. Section 107(a) of SECURE repealed the age cap of 70½ years and allows individuals to make deductible contributions to a traditional IRA past...
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The Setting Up Every Community for Retirement (SECURE Act) Act was enacted on Dec. 20, 2019 as part of the Further Consolidated Appropriations Act of 2019. Many of these provisions had been pending in Congress for some time, and the law brings about the biggest changes in retirement since the...
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The SECURE ACT introduced a concept which was not known well beyond a handful of 403(b) practitioners, that is the “distribution” of 403(b) individual custodial accounts from 403(b) plans. The lack of understanding of what this actually means has even lead one commentator in a highly respected...
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Two laws enacted in December—the Miners Act and the SECURE Act—will have wide-ranging effects on retirement plans. A recent American Society of Enrolled Actuaries (ASEA) webcast provided a closer look.
Both measures really are part of the Further Consolidated Appropriations Act, 2020. In “DB...
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Following up on a recent meeting with the Department of Labor, the American Retirement Association has outlined a number of items requiring additional guidance under the SECURE Act.
In the Feb. 12 letter, ARA recommended that the items listed below be the subject of DOL guidance, in the...
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Speaking at a Jan. 26 session of the NTSA Summit in Denver, NTSA Executive Director Brent Neese outlined recent developments that have affected NTSA members and will figure prominently in 2020.
Neese said that in his 25 years in the tax-exempt marketplace, there has been more change in the last...
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Addressing the NTSA Summit in Denver on Jan. 26, American Retirement Association CEO Brian Graff outlined provisions of the new SECURE Act that will affect the 403(b) marketplace along with the rest of the retirement industry.
Graff stressed the challenges posed by the current climate in...
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Brian Graff, CEO of the American Retirement Association, recently chatted with Money Life with Chuck Jaffe to discuss the various benefits of the SECURE Act.
Graff, who’s interviewed by Jaffe for the nearly 20-minute segment, reviews how the SECURE Act will help small businesses offer retirement...
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Surveys of small business owners have consistently shown cost to be a significant impediment to the adoption of a retirement plan for employees. Well, the recently enacted SECURE Act has a provision that could really make a difference.
Congress has previously tried to address this concern by...
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To understand a new law, it’s often helpful to read the actual law – especially since, in the case of the SECURE Act, we may well be waiting on IRS and DOL regulations for much of 2020. But what if you want to know what that legislative language actually means?
Either way, Pentgra Senior Vice...
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President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law on Dec. 20.
The bill was tucked into the 1,700 page, $1.4 trillion Further Consolidated Appropriations Act, 2020 (H.R. 1865, as amended) to fund half the government for the remainder of fiscal...
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The House of Representatives on Dec. 17 approved the “minibus” government funding bill that contains the bipartisan Setting Every Community Up for Retirement Enhancement (SECURE) Act, moving the bill one step closer to enactment. The bill passed by a 297-120 margin.
Contained in the Further...
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While the SECURE Act is garnering most of the attention, it’s not the only retirement-related legislation included in the spending bill now headed to the Senate.
Distributions for Qualified Disasters
In addition to the SECURE Act, Congress added special disaster-related rules for the use of...
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