The Do’s and Don’ts for Setting Up Emergency Savings Accounts

SECURE 2.0 allows non-highly compensated employees to contribute to emergency savings accounts. The IRS and the Department of Labor have now issued guidance clarifying the rules.

Compensation/Employment, Qualified Retirement Plan, SECURE ActTerry MooreJanuary 23, 2024PLESA, emergencysavings

Mandatory Auto-Enrollment is Coming for Some Plans-What to Know

Most new plans will be required to have auto-enrollment and auto-escalation beginning in 2025. The “grab bag” guidance in Notice 2024-02 addresses how this requirement will be applied to mergers and spinoffs, but leaves other basic questions unanswered.

SECURE 2.0, Qualified Retirement Plan, SECURE ActCarol BuckmannJanuary 7, 2024secure2.0, secureact, auto-enrollment, auto-escalation

New Guidance Fills in the Blanks for Roth Employer Contributions

Clarification of the rules for electing Roth employer contributions should spur more plan sponsors and vendors to consider allowing them.

Qualified Retirement Plan, SECURE 2.0, SECURE ActCarol BuckmannDecember 25, 2023Rothconributions, SECURE2.0, Section, section604(e)

The Roth Catch-up Requirement is Delayed, Making Time to Clarify the Rules

In this Op-ed for Bloomberg Tax, Carol Buckmann comments on the implications of this welcome delay in this new requirement applying to high earners.

Qualified Retirement Plan, SECURE 2.0, SECURE ActCarol BuckmannSeptember 5, 2023

The New Roth Catch-up Requirement Needs Clarification-What Are Plan Sponsors to Do?

A short provision of SECURE 2.0 raises a long list of compliance questions. Here are some of them.

Qualified Retirement Plan, SECURE Act, SECURE 2.0Carol BuckmannMay 30, 2023secure2.0, 401k, roth, catch-upcontributions

Special Rules for Special Plans-How SECURE 2.0 Impacts 403(b) Plans, MEPs and ESOPs

SECURE 2.0’s general changes apply to 403(b) plans, MEPs and ESOPs. However, there are also specific provisions targeted at these specialized plans and intended to solve their unique problems.

SECURE 2.0, Qualified Retirement Plan, SECURE ActCarol BuckmannFebruary 15, 2023SECURE Act, ESOP, MEP, PEP, 403(b)

How SECURE 2.0 Helps Employees Save for Non-Retirement Needs

SECURE 2.0 gives plan sponsors new tools to help participants with emergency needs and student debt.

Qualified Retirement Plan, SECURE 2.0, SECURE ActBen JosselsohnFebruary 9, 2023secureact, secure2.0, energency accounts, studentdebt, 401k

SECURE 2.0 Creates New Opportunities for IRAs, SEPs and SIMPLE IRAs

Several provisions of SECURE 2.0 ease penalties for IRA violations and provide new options for employers sponsoring SIMPLE-IRAs and SEPs.

Individual Retirement Account, Qualified Retirement Plan, SECURE 2.0, SECURE ActCarol BuckmannJanuary 24, 2023SECURE2.0, IRA, SEP, SIMPLEIRA

SECURE 2.0 Impacts Defined Benefit Plans, Too--Tracking the Changes

SECURE 2.0 doesn’t impact only 401(k) and other defined contribution plans. Here are the big changes that affect defined benefit plans.

SECURE 2.0, Qualified Retirement Plan, SECURE ActCarol BuckmannJanuary 15, 2023SECURE2.0, pensionplans, definedbenefitplans, cashbalance

HOW SECURE 2.0 AIMS TO INCREASE PLAN PARTICIPATION

Ben Josselsohn writes about how SECURE ACT 2.0 may increase plan participation and retirement savings.

SECURE ActBen JosselsohnJanuary 9, 2023

SECURE 2.0 Is Finally Passed with Gifts for Everyone

SECURE 2.0 takes aim at the retirement savings gap and contains major changes affecting all types of plans. Some of them are effective in 2023. Here are some key takeaways.

Qualified Retirement Plan, SECURE 2.0, SECURE ActCarol BuckmannDecember 27, 2022SECURE Act 2.0, qualifiedplans, 403(b) plans, Pension reform

Good News for Plan Sponsors! IRS Extends SECURE, CARES Act Amendments Deadline.

The IRS has extended the deadline for finalizing qualified plan amendments, although plan sponsors might want to amend their plans sooner rather than later. Attorney Ben Josselsohn explains why.

Qualified Retirement Plan, SECURE ActBen JosselsohnAugust 5, 2022