News & Analysis as of

Domestic Violence SECURE Act Benefit Plan Sponsors

Jackson Lewis P.C.

New Guidance: Emergency Personal Expense And Domestic Abuse Victim Distributions

Jackson Lewis P.C. on

Of interest to 401(k) plan sponsors and administrators, the IRS recently issued Notice 2024-55, providing guidance on SECURE 2.0’s new exceptions—effective January 1, 2024—to the additional 10% tax on early qualified...more

Kaufman & Canoles

ESOPs & Employee Benefits - SECURE 2.0 Provisions Taking Effect in 2024

Kaufman & Canoles on

As many surely recall, the SECURE 2.0 Act of 2022 included nearly 100 provisions affecting retirement plans. While a number of the new rules became effective immediately, another portion is scheduled to take effect in 2024....more

Bricker Graydon LLP

New Optional In-Service Withdrawal Right for Domestic Abuse Victims

Bricker Graydon LLP on

The next installment of our updates on SECURE 2.0 is on another new in-service withdrawal option. SECURE 2.0 allows plan sponsors of defined contribution plans to amend their plans to allow plan participants who are victims...more

Foley & Lardner LLP

Diving Into SECURE 2.0: New and Potentially Easier Ways to Make Withdrawals from 401(k) Plans

Foley & Lardner LLP on

...Emergency Savings Accounts and Distributions - Brief overview. As reported previously, SECURE 2.0 permits but does not require plans to add emergency savings accounts beginning with the 2024 plan year, but only...more

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