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SECURE 2 0 Questions IRS Guidance

SECURE 2 0 Questions IRS Guidance
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Establishment dateAutomatic enrollmentDate controlsNonelective rothPlan sponsorsMust be vestedNonelective contributionsTerminally illSeparate distribution eventCorrections billStated limitYear replacementSafe harborFinancial incentivesforAutomatic contributionPlans compliance resolution system

SECURE 2 0 Delivers New Rules For Correcting Retirement Plan Errors - Employee Benefits & Compensation

As part of our ongoing series on SECURE 2.0, this post discusses three significant changes to corrections of common retirement plan errors: (1) New rules for correcting overpayments.

Correction program to cover mostProgram or auditCorrection programAudit closing agreement programSelf correction programCompliance resolution systemRetirement planFiduciaries not requiredInternal revenuePlan fiduciary choosesRecover overpaymentsCover mostVoluntary correction programCode sectionsVoluntary correctionRevenue procedure

Legislative Proposals Would Bolster Retirement Income Adequacy

An EBRI report finds five policy ideas and assumptions would likely slash retirement savings deficits.

Richard nealResearch instituteResearch jack vanderheiMeans committeeSociety of actuariesEmployee benefit research instituteSecurity projection modelVarious legislative proposalsIndustry innovationsRetirement income adequacyAutomatic contributionMeans committee chairman richard nealBuild back better act

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