IRS Clarifies SECURE 2.0 Cash Balance Backloading Test Changes
The IRS says that the balance and accrual rate for a participant cannot be reduced when adopting a new variable...
Tag: SECURE 2.0 Act of 2022
Inflation, Student Loans Continue to Be Stressors for Participants Heading Into 2024
While many employees reported receiving pay raises in the last year, the majority say their salary is not keeping up...
Benefits |
EBSA’s Lisa Gomez Talks DOL 2024 Agenda
The Department of Labor keeps working to implement provisions of 2022’s SECURE 2.0 Act alongside further rules for retirement and...
Small-Balance Retirement Account Holders to See Significant Changes in 2024
Retirement Clearinghouse says many participants with balances of $7,000 or less will avoid leakage of savings when changing jobs.
What’s Changing in 2024 Under SECURE 2.0
A comparison of the SECURE 2.0 Act of 2022 provisions taking effect in 2024 and prior law, where applicable, according...
IRS Publishes 2023 Cumulative List of Remedial Amendments
The amendments keep pre-approved plans in compliance with changes to tax law.
Benefits |
Institutional Advisory Division of KeyBank Launches PEP
Institutional Advisory debuts 401(k) pooled employer plan, with Transamerica Corp. the recordkeeper and Pentegra the pooled plan administrator.
SECURE 2.0 Corrections Drafted by Congress
The bill will likely have to be added to a budget bill early in 2024 to pass.
How Does the New Long-Term Part-Time Rule Affect 403(b) Plans?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Plan Sponsors Get Clarity and Some New Questions in IRS Part-Time Eligibility Rules
The post-Thanksgiving rule proposal will require a close look and potential plan design changes in the coming weeks for employers...
IRS Proposes Part-Time Eligibility Rules per SECURE Legislation
Plan sponsors now have IRS guidance on what part-time workers are eligible for plans, though a comment period and finalization...
Can a Plan Sponsor Limit Hardship Distributions?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Benefits |
‘Total Financial Wellness’ Expected to Increase in 2024
Looking ahead to next year, Vanguard’s David Stinnett predicts plan sponsors will continue to expand financial wellness programs and will...
EBSA Head Lisa Gomez Talks Broadening Access to Retirement Benefits
The assistant Secretary of Labor for the Employee Benefits Security Administration spoke to PLANSPONSOR about ‘Schoolhouse Rock,’ disparities in retirement...
Benefits |
Abbott Labs Releases Blueprint to Help Employers Offer Student Loan Benefits
As student loan debt is a key driver in many employees’ financial stress, Freedom 2 Save—first implemented in 2018—could be...
Cost, Complexity Main Obstacles to Plan Creation by Small Businesses, Survey Says
The survey also found limited awareness of SECURE 2.0.
Employees More Stressed Over Immediate Expenses Than Retirement
Cost-of-living expenses, as well as student loan debt and wages, are primary obstacles to saving for retirement, according to new...
‘Important Step’ or ‘Out of Touch’? Reactions to DOL Proposal Run the Gamut
Financial sector responds to proposed amendments to advice regarding retirement plan rollovers and annuity sales.
Benefits |
Despite Savings Shortfall for Public Sector Workers, Automatic Options Yet to Catch On
Research from the MissionSquare Research Institute shows that with defined benefit pensions not providing enough for full retirement, plan design...
New Bill Would Increase Plan Startup Credits for Small Businesses
The legislation would allow businesses with 10 or fewer employees to benefit more from SECURE 2.0 credits when starting a...