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week ending September 11th, 2020
The distractions of this year turned attention away from the big news of the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. But, big changes from that legislation are coming. For example, pooled employer plans (PEPs) will come to market January 1, and plan sponsors will need to start counting hours to prepare to include part-time employees in retirement plans. The IRS has recently issued some guidance about SECURE Act compliance. In this edition of PLANSPONSOR Weekend, you will find information to help you with your obligations related to the SECURE Act. Be well.
Editor's Choice
Compliance
Details About SECURE Act’s PEP and Lifetime Income Provisions
Open MEPs are now PEPs, and additional guidance is needed about requirements for PEPs and other provisions of the SECURE Act.
Compliance
Getting Ready to Include Part-Time Employees in Retirement Plans
401(k) plan sponsors need to understand all the parts of the new requirement and, for some, the long-term effects on plan administration.
Compliance
What to Know About Potential Open MEP Conflicts
Attorneys say employers considering whether, and what type, of multiple employer plan (MEP) to join will want to closely monitor the progress of guidance anticipated from the Department of Labor and the Internal Revenue Service.
Administration
The PEP Opportunity
Pooled employer plans (PEPs) are coming, and potential adopting employers need to know what to look for and what they are getting into.
Compliance
IRS Clarifies SECURE Act Birth and Adoption Distribution Rules
Qualified birth or adoption distributions have been permissible since January under the SECURE Act, but more specific guidance on how they should be treated has only just been published by the IRS.
Popular Reads
Participants
What Participants Want From Employers’ Retirement Plan Websites
A recent study found 81% of participants have logged into their accounts, with most signing in to check account balances or review investment options.
Research
2021 Recordkeeping Survey
Inside Angle
DOL’s Next Moves
What’s in store for the rest of the year?
Ask the Experts
Allowing for After-Tax Contributions in a 401(a) Plan
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Deals and People
Retirement Industry People Moves
Northern Trust announces hiring of new CIO; Morgan Stanley partners with Empower; and IRIC appoints executive director.
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