News & Analysis as of

Compensation & Benefits Employee Retirement Income Security Act (ERISA) SECURE Act

Bass, Berry & Sims PLC

Caution! Contents Hot: Key Benefits Issues to Watch During the Remainder of 2024

Bass, Berry & Sims PLC on

While the sweltering roil of temporary regulatory changes related to the COVID-19 pandemic may have cooled and the initial burst of SECURE 2.0 steam begins to dissipate, sponsors of employee benefit plans should keep their...more

Pullman & Comley - Labor, Employment and...

Extended Time to Amend Tax Qualified Retirement Plans for SECURE 2.0 Act and other Legislation

On December 20, 2023, the Internal Revenue Service (IRS) issued Notice 2024-2 to “provide guidance on discreet issues” concerning the implementation of specific provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0)....more

Eversheds Sutherland (US) LLP

Checking it twice: Benefit plan end of year actions to consider

With 2023 drawing to a close, it is a good time for employers to consider any actions needed before year-end with respect to their benefit plans. We made a list, and we encourage plan sponsors to check it twice....more

Ballard Spahr LLP

Long-Term Part-Time Employee Participation in 401(k) Plans Begins in 2024

Ballard Spahr LLP on

To encourage participation in 401(k) plans, the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) requires employers who sponsor 401(k) plans with eligibility service requirements that exclude...more

Robinson Bradshaw

Fiduciary Fundamentals: The Basics

Robinson Bradshaw on

The Employee Retirement Income Security Act of 1974 (ERISA) is a body of federal laws and regulations that govern the provision and operation of certain employer-sponsored benefit plans. While its structure and requirements...more

Kilpatrick

Participation of Long-Term, Part-Time Employees in 401(k) Plans

Kilpatrick on

One of the goals of the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”), which was passed in late 2019, was to increase participation in 401(k) plans. In this regard, Section 112 of the SECURE...more

Laner Muchin, Ltd.

DOL Issues Implementation FAQs Regarding the Lifetime Income Illustrations for Defined Contribution Plans

Laner Muchin, Ltd. on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) amended the Employee Retirement Security Act of 1974 (ERISA) to add two lifetime income illustrations, furnished at least annually, to plan...more

Stinson LLP

DOL Issues FAQs on SECURE Act Lifetime Income Illustrations and Interim Final Rule

Stinson LLP on

On July 26, 2021 the Department of Labor’s (DOL) Employee Benefits Security Administration issued a set of four frequently asked questions (FAQs) that address the implementation of Section 203 of the Setting Every Community...more

Laner Muchin, Ltd.

SECURE Act Brings Many Retirement Plan Changes

Laner Muchin, Ltd. on

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) was signed into law. The SECURE Act is one of the most significant pieces of legislation impacting retirement plans in...more

Morgan Lewis - ML Benefits

SECURE Act May Pave Way to More Lifetime Income Opportunities in Defined Contribution Plans

Ever since defined contribution plans have come to dominate the retirement plan landscape, both plan sponsors and policymakers have grappled with how to help employees take a lifetime’s worth of savings and convert it into a...more

Morgan Lewis - ML Benefits

SECURE Act Makes Significant Changes to Benefits Laws (UPDATED)

The SECURE Act—potentially the most impactful benefits legislation since the Pension Protection Act of 2006—was included in the bipartisan spending bill signed into law on December 20, 2019. The SECURE Act includes provisions...more

Groom Law Group, Chartered

Lifetime Income Provisions Under the SECURE Act

As the U.S. private retirement system has largely shifted away from traditional pensions in favor of a defined contribution plan savings model, a number of policymakers have expressed concerns over whether participants’...more

Pullman & Comley, LLC

SECURE Act Modifies Retirement Plan Distribution Rules

Pullman & Comley, LLC on

New legislation impacting retirement plans and their participants was signed into law by President Trump on December 20, 2019. The Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) is one of the...more

Groom Law Group, Chartered

Round One of SECURE Act Guidance – IRA Reporting Relief for 2020 MRDs

IRA providers were concerned with not being able to “stop the presses” when it came to notices being provided in January to IRA owners regarding the need to take 2020 minimum required distributions (“MRDs”)....more

Troutman Pepper

The SECURE Act Brings Significant Changes for Retirement Plans and IRAs

Troutman Pepper on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act), signed into law on Dec. 20, 2019, will have a wide-ranging impact on tax-qualified retirement plans and individual retirement accounts,...more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

Epstein Becker & Green

Five More Employee Benefits and Executive Compensation Topics to Address in the New Year - Take 5 Newsletter

Epstein Becker & Green on

From year to year (and sometimes week to week), there never seems to be a shortage of issues and questions for employee benefit plan sponsors and fiduciaries, as well as compensation committees, to address in order to...more

Epstein Becker & Green

What Employers Should Know About the SECURE Act’s Lifetime Income Provisions

Epstein Becker & Green on

Predictable lifetime income is often of paramount concern to retirees. Yet, as employer-sponsored retirement plans have moved away from the traditional pension plan model, participants in defined contribution plans may be...more

Littler

SECURE Act Provides Sweeping and Immediate Changes to Retirement Plans

Littler on

On Friday, December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Act of 2019 (the “SECURE Act”) as part of a spending bill to fund the government through September 30, 2020 (H.R....more

Pullman & Comley, LLC

New Retirement Distribution Rules Begin in 2020: The SECURE Act Giveth and Taketh Away: Pullman & Comley

Pullman & Comley, LLC on

The first important new law impacting retirement distributions in over a decade was enacted on December 20, 2019 as the SECURE Act (“Setting Every Community Up for Retirement Enhancement Act of 2019”). ...more

Miller Canfield

SECURE Act Makes Big Changes to Retirement Plans

Miller Canfield on

Employers, plan sponsors, and plan administrators ring in the New Year with new recordkeeping and administrative challenges for 2020 and beyond. After much anticipation, on December 20, 2019, Pres. Donald Trump signed into...more

Seyfarth Shaw LLP

President Trump Signs SECURE Act into Law

Seyfarth Shaw LLP on

As part of the year-end government funding legislation, on December 20th, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act” or the “Act”). The Act contains...more

Lewitt Hackman

SECURE Act Creates Need for Estate Plan Review

Lewitt Hackman on

Congress recently passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act, or the “Act”) implementing one of the most substantial pieces of retirement plan legislation in years, into law....more

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