…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)…
…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…
…established on the date it becomes effective for the employer. The timing requirements for eligibility for the contributions credit work in a similar way: The 5-year contributions credit period begins with the first taxable year during which the eligible employer plan is established. The $100,000…
…common inquiry related to excess salary deferrals. The advisor asked: “Why is March 1st an important date with respect to excess deferrals in a 401(k) plan? I thought a participant had until April 15th to correct an excess deferral.” Highlights of the Discussion March 1st…
…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….