…the horizon. This webinar will provide insights into various legislative proposals and what it could mean for plan sponsors. Key Items Update on SECURE 2.0 Keeping Your Retirement Act Increasing Retirement Amount Act The Enhancing Emergency and Retirement Savings Act of 2021 ESG Disclosure mandate…
…mandatory and takes effect in 2024. Plans without a designated Roth provision would have to add the provision to the plan to comply with this rule. Logistically, this provision will require numerous, time-consuming, and costly changes to plan and payroll processing systems to accommodate it….
…participant loans and hardship withdrawals point to another problem – namely that too many people don’t have savings or emergency funds outside of their company’s retirement plan account. It’s no wonder that too often they look to their retirement account in times of financial stress….
Each year the Trustees of the Social Security and Medicare Trust funds report on the current and projected financial status of the two programs. The Report includes extensive information about the current operations of these important social insurance programs and analysis of their outlook. Assumptions…
…a feature that automatically raises employee contribution rates a little each year until they reach their target savings rate. This is really important since auto-enrollment usually starts at a savings rate of 3%, which is too low for most people to save and earn enough…
…assets and maintain personal data on participants, which can make them tempting targets for cyber-criminals. Plan fiduciaries have an obligation to ensure proper mitigation of cybersecurity risks. Key Items Responsibilities to manage cybersecurity risks Retirement account online basic rules to reduce the risk of fraud…
Cybersecurity is an epic concern not only in the United States, but globally, as well. Today’s hackers are modern day Willie Suttons, targeting high-balanced financial accounts because, “That’s where the money is.” Due to the massive amount of assets in retirement plans, regulatory agencies are…
…is the federal government’s latest economic stimulus package and the first under President Biden. Key Items Defined Benefit Single Employer Plan Funding Relief Defined Benefit Multiemployer Plan Funding Relief Impacts to Defined Contribution Plans Update on The Securing a Strong Retirement Act of 2020 (SSRA)…
…and credits, enhancements of SIMPLE IRA arrangements, emergency saving account options in 401(k), and matching of certain student loan payments. In addition, we’ll cover changes to excesses, corrections, RMD and rollover rules. Lastly, the timing, amendment and effective dates of key provisions will be discussed….
…the administrative burden for plan sponsors. This provision is effective for plan years beginning after the date of enactment of SECURE 2.0. 3. Expanding Automatic Enrollment in 403(b) and 401(k) Plans Automatic enrollment will be a mandatory feature for all new 403(b)/401(k) plans established after…
…retirement; see how a plan governance process may help reduce fiduciary liability; identify plan design elements that may help plan sponsors achieve personal and business goals; and stay up to date on plan compliance issues. *Disclaimer: This recording is not eligible for Continuing Education Credits…