view in browser | plansponsor.com

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 Compliance SECURE Act 2.0 Passed Unanimously by Ways and Means Committee A rare unanimous affirmative voice vote by the Ways and Means Committee allows the SECURE Act 2.0 to be considered by the full House of Representatives. 2020 Recordkeeping Survey Opinions How to Tell If You’re Paying Reasonable Fees for Actuarial Services Leslie Olds, with Strategic Benefits Advisors, discusses how DB plan sponsors can determine whether actuarial fees are in line with services provided. Administration Forces Come Together to Make PRTs More Attractive Increased funded status for DB plans and rising interest rates make now a good time for plan sponsors to consider implementing pension risk transfer transactions. Participants DC Plan Participants Need More Than Jargon The way people view and define retirement has undergone a significant philosophical change in recent years, creating a clear and present need to update the defined contribution plan lexicon. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise

©2021 Asset International Inc. All rights reserved. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850